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Thread: Fannie wants 5 billion more.

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    Fannie wants 5 billion more.

    I'll ask again, why are we not forcing these fraudulent loans back on to those who sold them in the first place?

    WASHINGTON - Mortgage finance giant Fannie Mae said it would ask for an additional $5.1 billion from taxpayers as it continues to suffer losses on loans made prior to 2009.

    The largest U.S. residential mortgage funds provider on Friday also reported a second-quarter net loss attributable to common shareholders of $5.2 billion, or 90 cents per share.

    Including the latest funding request, Fannie Mae has needed $104 billion in government capital injections since the U.S. Treasury seized control of it in 2008 during the financial crisis. Fannie Mae has paid back $14.7 billion in dividends.


    $104 billion and who has been held accountable?

    News Headlines

    Loans made in the past two years have been more profitable for Fannie Mae than loans made during the housing boom in preceding years.

    Imagine that.

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    Re: Fannie wants 5 billion more.

    Hey, they're too big to fail, we have to take more of the People's money and give it to them even though we're broke. Mmmm...wealth redistribution.
    You know the time is right to take control, we gotta take offense against the status quo

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    Re: Fannie wants 5 billion more.

    Of course they want more...that's what happens when you give a fat man cake, he comes back for more.
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    Re: Fannie wants 5 billion more.

    Quote Originally Posted by 1Perry View Post
    I'll ask again, why are we not forcing these fraudulent loans back on to those who sold them in the first place?

    WASHINGTON - Mortgage finance giant Fannie Mae said it would ask for an additional $5.1 billion from taxpayers as it continues to suffer losses on loans made prior to 2009.

    The largest U.S. residential mortgage funds provider on Friday also reported a second-quarter net loss attributable to common shareholders of $5.2 billion, or 90 cents per share.

    Including the latest funding request, Fannie Mae has needed $104 billion in government capital injections since the U.S. Treasury seized control of it in 2008 during the financial crisis. Fannie Mae has paid back $14.7 billion in dividends.


    $104 billion and who has been held accountable?

    News Headlines

    Loans made in the past two years have been more profitable for Fannie Mae than loans made during the housing boom in preceding years.

    Imagine that.
    Holy **** - 104 Billion already?

    Where - how? Just WHY is it so damn much?

    If a home costs 120,000 - and that's ALL in default - then that's 866,000 homes - ok, so that's just some very crude math. but - seriously - HOW is ther eso much liability and faulted assests? I don't ge twhere these numbers come from and how they aren't possibly enough.

    If it costs 104 B to keep just barely afloat then is it really WORTH IT?
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    Re: Fannie wants 5 billion more.

    Should we start a pool on (1) when they'll get it and (2) how long it will be before they ask for more?
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    Re: Fannie wants 5 billion more.

    That's what you get when you allow government to create and nurture such institutions, and then allow them to run social policy through them.
    What are you gonna do now, call foul because it costs you money? Guess what, investors knew this, that's why they won, and taxpayers lost. Keep pushing social policy through massive government involvement in markets and massive taxpayer reveneue projects. They will keep finding ways to beat you over the head with it.

    Look at it this way. As long as liberals keep ignoring the constitution and keep asking for more government spending and social policy via government and taxation, that give the government IMMENSE power. And, those opposing it or just wanting to make a buck, will then USE that power, to get what THEY want. You enabled it, by opening the door for them. You have only one practical choice, stop letting government enjoy so much power, because *everyone* abuses it.

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    Re: Fannie wants 5 billion more.

    Quote Originally Posted by Aunt Spiker View Post
    Holy **** - 104 Billion already?

    Where - how? Just WHY is it so damn much?

    If a home costs 120,000 - and that's ALL in default - then that's 866,000 homes - ok, so that's just some very crude math. but - seriously - HOW is ther eso much liability and faulted assests? I don't ge twhere these numbers come from and how they aren't possibly enough.

    If it costs 104 B to keep just barely afloat then is it really WORTH IT?
    Boggles the mind doesn't it? Even worse is that nobody has been held accountable for these losses.

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    Re: Fannie wants 5 billion more.

    Quote Originally Posted by 1Perry View Post
    Boggles the mind doesn't it? Even worse is that nobody has been held accountable for these losses.
    Yes - absolutely mind boggling. I mean - why, where? Can anyone account for anything these days?

    But if I underpay my credit card on accident by $5.00 my credit gets ****ed.
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    Re: Fannie wants 5 billion more.

    Quote Originally Posted by 1Perry View Post
    I'll ask again, why are we not forcing these fraudulent loans back on to those who sold them in the first place?

    WASHINGTON - Mortgage finance giant Fannie Mae said it would ask for an additional $5.1 billion from taxpayers as it continues to suffer losses on loans made prior to 2009.

    The largest U.S. residential mortgage funds provider on Friday also reported a second-quarter net loss attributable to common shareholders of $5.2 billion, or 90 cents per share.

    Including the latest funding request, Fannie Mae has needed $104 billion in government capital injections since the U.S. Treasury seized control of it in 2008 during the financial crisis. Fannie Mae has paid back $14.7 billion in dividends.


    $104 billion and who has been held accountable?

    News Headlines

    Loans made in the past two years have been more profitable for Fannie Mae than loans made during the housing boom in preceding years.

    Imagine that.
    No business should get tax payer money even if it is a so called loan. Perhaps we should stop letting businesses get too big if the fact they may one day fail will have disastrous effects.
    "A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murder is less to fear"

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    Re: Fannie wants 5 billion more.

    Quote Originally Posted by jamesrage View Post
    No business should get tax payer money even if it is a so called loan. Perhaps we should stop letting businesses get too big if the fact they may one day fail will have disastrous effects.
    Yeah - I'm agreeing, here, with keeping size limited.

    Since a huge company failling to do their job and maintain good order has proven disasterous NUMEROUS times I'd say they've lost their priveldge. We need to enact something more beyond monopoly laws.
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