rssFreddie and Fannie Take a Dive
Monday, July 07, 2008 at 5:06 pm
- 2 Comments
Friend-of-the-site Charles Morris just wrote in to let us know that Fannie Mae and Freddie Mac’s stock took a nose dive today, dropping 17 percent and 18 percent respectively. That’s grim news for the federally funded/privately held duo that was anointed to lead the major bank bailout at the first signs of the housing crisis last summer. Charles wrote about their role in the housing crisis this morning in a piece that outlines how federal efforts to ease the pain of hte mortgage crisis are merely stop gaps. This crisis is going to get much worse before it gets better.
2 Comments
Comment posted July 23, 2008 @ 8:14 pm
I was just witnessing congressional spending at its finest when it bailed out Fannie Mae and Freddie Mac as well as all those folks who were dumb enough to get in over their heads on mortgages when I realized what was happening. We are now losing our ability to hold ourselves individually accountable for our actions. Collateral damage is the ability to hold others accountable as well. Individual bankruptcy, stomach staples, misbehaved children at restaurants, public profanity, credit card debt and other excesses that are largely caused by the lack of individual self control are entry points for collective controls over everyone
Comment posted July 23, 2008 @ 3:14 pm
I was just witnessing congressional spending at its finest when it bailed out Fannie Mae and Freddie Mac as well as all those folks who were dumb enough to get in over their heads on mortgages when I realized what was happening. We are now losing our ability to hold ourselves individually accountable for our actions. Collateral damage is the ability to hold others accountable as well. Individual bankruptcy, stomach staples, misbehaved children at restaurants, public profanity, credit card debt and other excesses that are largely caused by the lack of individual self control are entry points for collective controls over everyone
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