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Thread: Politics, shaky economy create no rush to restructure Fannie and Freddie

  1. #11
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    Re: Politics, shaky economy create no rush to restructure Fannie and Freddie

    Quote Originally Posted by the makeout hobo View Post
    and if paul used the money he robbed from peter to build peter a house? It's not as simple as you make it
    It's just that simple, actually. Your over-complicating it.

    Government isn't in the business of generating revenue. It's in the business of receiving tax revenue from the private sector.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Politics, shaky economy create no rush to restructure Fannie and Freddie

    Quote Originally Posted by apdst View Post




    No it can't. Where does the money come from?



    Where does the money come from? The private sector. If the private sector isn't making money, the government isn't getting revenue.

    Again and again and again, that's bullcrap, the government can't create wealth. Only the private sector can create wealth.
    So

    If the government cant create wealth lets blow up the Hoover dam as it is worthless, and let the private sector build something there that will increase the wealth of the nation. I wonder what would be a good thing to build there, perhaps a dam that provides electricity and water for irrigation


    It does not matter where the money is coming from, what matters is what is done with it, whether it was a productive use of the money or not. Does a government typically create wealth, no, but it can. Does the private sector typically create wealth yes, but it can destroy it quite easily
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    Re: Politics, shaky economy create no rush to restructure Fannie and Freddie

    Quote Originally Posted by Lord Tammerlain View Post
    So

    If the government cant create wealth...
    Often, arguments for limited government evolve into notions that go well beyond the case that can reasonably be made for limited government. The fallacy that government cannot create wealth is one example. Let's say a government helps finance basic research and that research later leads to a scientific breakthrough that is commercialized and generates a stream of income. In that case, government played a positive role in helping create wealth. Education and infrastructure investments are examples whereby government investment lays a framework for wealth creation.

    That government investment helped create wealth does not, of course, justify an ever more expansive role for government. Excessive government would suffer from the same net costs of any large entity i.e., inefficiency, lack of coherence, etc. Moreover, on account of the government's ability to leverage the force of law, it would be in a position to pass on the net costs to society in a way private firms that are subject to failure cannot.

    The value of government investment noted above also does not rationalize an oversized public sector role in the economy. State-owned enterprises often fare badly not because of incompetence, but because such enterprises are subject to non-economic constraints e.g., political interests take precedence over economic ones. As such, decisions that may not be optimal from a purely economic standpoint are made on grounds of political necessity. A classic example of such a tradeoff would be a decision to forego capital investment that would displace labor, because a democratically-elected government might face potential problems at the polls if it were to take measures that would raise unemployment. In that example, job security for voting constituents would take precedence over capital investment, the political interest would prevail over the economic one, and the short-term benefit (maintaining employment) would override the longer-term one (increased productivity) even if the net long-term benefit exceeded the short-term cost of higher unemployment.
    Last edited by donsutherland1; 03-12-10 at 01:26 PM.

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    Re: Politics, shaky economy create no rush to restructure Fannie and Freddie

    Quote Originally Posted by Erod View Post
    The Dems are waiting for the Republicans, when they take power soon, to tear apart Fannie and Freddie. Then they can use it for 2012 by claiming Republicans have it out for poor people.

    Just like Dodd and Frank did to create this mess in the first place.
    So, kinda similar to the way repubs run things.

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    Re: Politics, shaky economy create no rush to restructure Fannie and Freddie

    no reform of fannie and fred but a roofless reconstruction in late december

    U.S. to Lose $400 Billion on Fannie, Freddie, Wallison Says - Bloomberg.com

    The Treasury said on Dec. 24 it would provide an unlimited amount of assistance to the companies as needed for the next three years to alleviate market concern that the government lifeline for Fannie Mae and Freddie Mac, the largest source of money for U.S. home loans, could lapse or be exhausted.
    meanwhile, abc reports that the non partisan Congressional Oversight Panel warns:

    another crisis a bigger crisis that weakens both our financial sector and our larger economy is more than predictable, it is inevitable
    Economists Warn Another Financial on Way to U.S. Economy - ABC News

    the cause of the economists' concern is:

    a "doomsday cycle" wherein banks use borrowed money to take massive risks in an attempt to pay big dividends to shareholders and big bonuses to management and when the risks go wrong, the banks receive taxpayer bailouts from the government
    in other words, the continuance of the "high risk lending" that got us in this mess in the first place, except on a GREATLY INCREASED SCALE

    in other words, obama is so far just more of the same, only a LOT WORSE

    hey, them's the Oversight Panelists talking, not the peaceful prof

    take up your gripes with ms elizabeth warren, the chair

    she's some kinda egghead guru from harvard, i believe, whom i read about elsewhere somewhere whom EVERYONE just raves about

    i think she even won a nobel (which doesn't quite count for as much as it used to)

    on a final note, it is common knowledge in the real estate community that the end of foreclosures is NO END IN SIGHT

    Foreclosures exceed 300,000 for 11th straight month | The Money Times

    we're facing a DOOMSDAY CRISIS, says ms warren and her upper division colleagues

    there's no way out

    americans have lost HOPE

    sorry

    are you really SURE you want to be president, after all, mr pie-in-the-face?
    Last edited by The Prof; 03-12-10 at 04:03 PM.

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    Re: Politics, shaky economy create no rush to restructure Fannie and Freddie

    Quote Originally Posted by The Prof View Post
    no reform of fannie and fred but a roofless reconstruction in late december

    U.S. to Lose $400 Billion on Fannie, Freddie, Wallison Says - Bloomberg.com



    meanwhile, abc reports that the non partisan Congressional Oversight Panel warns:



    Economists Warn Another Financial on Way to U.S. Economy - ABC News

    the cause of the economists' concern is:



    in other words, the continuance of the "high risk lending" that got us in this mess in the first place, except on a GREATLY INCREASED SCALE

    in other words, obama is so far just more of the same, only a LOT WORSE

    hey, them's the Oversight Panelists talking, not the peaceful prof

    take up your gripes with ms elizabeth warren, the chair

    she's some kinda egghead guru from harvard, i believe, whom i read about elsewhere somewhere whom EVERYONE just raves about

    i think she even won a nobel (which doesn't quite count for as much as it used to)

    on a final note, it is common knowledge in the real estate community that the end of foreclosures is NO END IN SIGHT

    Foreclosures exceed 300,000 for 11th straight month | The Money Times

    we're facing a DOOMSDAY CRISIS, says ms warren and her upper division colleagues

    there's no way out

    americans have lost HOPE

    sorry

    are you really SURE you want to be president, after all, mr pie-in-the-face?
    Well then, I guess we can all agree that government regulations are needed because the "free market" won't police itself and will even do the exact things that nearly collapsed our entire economy, if allowed to.

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    Re: Politics, shaky economy create no rush to restructure Fannie and Freddie

    that's absurd

    no free market lender is gonna put THE MAJORITY of his capital out there to people who don't qualify, can't pay it back, have no income, are depending on refinancing to meet adjustables and balloons, rely on negative amortizations, and are, in essence, the definition of BAD RISKS

    fannie and fred would, did and continue to do so

    obama TRIPLED DOWN

    man up

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    Re: Politics, shaky economy create no rush to restructure Fannie and Freddie

    Quote Originally Posted by The Prof View Post
    that's absurd

    no free market lender is gonna put THE MAJORITY of his capital out there to people who don't qualify, can't pay it back, have no income, are depending on refinancing to meet adjustables and balloons, rely on negative amortizations, and are, in essence, the definition of BAD RISKS

    fannie and fred would, did and continue to do so

    obama TRIPLED DOWN

    man up
    Man up? What are you, 16?

    Anyway, so you disagree that regulation is needed?

  9. #19
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    Re: Politics, shaky economy create no rush to restructure Fannie and Freddie

    Quote Originally Posted by The Prof View Post
    that's absurd

    no free market lender is gonna put THE MAJORITY of his capital out there to people who don't qualify, can't pay it back, have no income, are depending on refinancing to meet adjustables and balloons, rely on negative amortizations, and are, in essence, the definition of BAD RISKS

    fannie and fred would, did and continue to do so

    obama TRIPLED DOWN

    man up
    Really no free market lender would do that

    AIG, Leahman Brothers, Bear Sterns, Washington Mutual, Countrywide, Citi, GMAC etc

    I think the market can be just as idiotic as any government
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    Re: Politics, shaky economy create no rush to restructure Fannie and Freddie

    for such suicidal practices to be implemented on such a massive scale at so institutional a level nation wide requires more than mere stupidity to explain

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