Government takes control of Freddie Mac and Fannie Mae - The Postgame Pub

**Chubz** · 09-08-2008, 07:11 AM

You maybe wondering what the big deal is about. Here it is. The own maybe half to a little more of all the mortgages in the us. What that does is takes of their writedowns and debt and puts it on the governments balance sheet. Big deal right? Yeah it is because now the government has even more debt on its hand and could knockdown the value of the dollar even more. The us dollar has actually strengthened over the past few months. That could all be wiped out.

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RNPoo7 · 09-08-2008, 08:56 AM

They started out as gov't based back in the day around the great depression.

I hope the gov't is able to save them. You don't want to imagine what would happen if those 2 companies go down the drain. It will affect everything else and possibly ANOTHER yet worse Great Depression

**SouthernWebb04** · 09-08-2008, 11:30 AM

There's so many more things that are different knowadays, that our 'depression' can't be fairly judged compared to the old 'depression.' Either way, no matter how bad it gets, it will get better. Maybe that is what our country really needs. I know I speak for myself when I used to not cherish the dollar, nor use it wisely. I do now from maturity, but I don't think it'd hurt.

oceanspraypink · 09-08-2008, 11:33 AM

What really suck about the economy right now is alot of people have lost their houses. Talk about a big hit on your credit. I read where some home owners don't even know who owns their houses.

b-ballmom · 09-09-2008, 09:44 AM

Wasn't the reason the two went private in the first place was because the government wasn't managing things right? I think it's rather a scary though putting more control back into federal hands.

RNPoo7 · 09-09-2008, 10:06 AM

Well I just found realized that the gov't took full control over them over teh weekend. I wasn't aware of that when I made my earlier post.

Before, it was quasi connected with the gov't. Meaning that they were operating on their own but the gov't still had a huge stake in both of them.

Like I said before, if the gov't didn't get full control of them and let them both go dodwn the hill, we WILL be in big trouble.

However, this cycle happens every about 15 years. It has happened before with the fall of the S&Ls (savings and loans instutitions). The gov't did the same thing buy acuqiring them and saving their ass so that the econmony doesn't go haywire!

09-08-2008, 07:11 AM	#1 (permalink)
Chubz The Human Steamroller Join Date: Mar 2007 Location: Toms River, NJ Posts: 5,706 vCash: 3571 Donate My Blog: The Chubzone XBL Gamertag: xXchubbzillaXx PSN Gamertag: Chubzilla Blog Entries: 3 Rep Power: 100 Awards Showcase Total Awards: 2	Government takes control of Freddie Mac and Fannie Mae You maybe wondering what the big deal is about. Here it is. The own maybe half to a little more of all the mortgages in the us. What that does is takes of their writedowns and debt and puts it on the governments balance sheet. Big deal right? Yeah it is because now the government has even more debt on its hand and could knockdown the value of the dollar even more. The us dollar has actually strengthened over the past few months. That could all be wiped out. Posted via Mobile Device

09-08-2008, 08:56 AM	#2 (permalink)
RNPoo7 I heart brunettes Join Date: Nov 2006 Location: SC Posts: 2,346 vCash: 8894 Donate Rep Power: 62 Awards Showcase Total Awards: 2	Re: Government takes control of Freddie Mac and Fannie Mae They started out as gov't based back in the day around the great depression. I hope the gov't is able to save them. You don't want to imagine what would happen if those 2 companies go down the drain. It will affect everything else and possibly ANOTHER yet worse Great Depression __________________ 06 TSX 95 Del Sol S 00 Integra GS-R

09-08-2008, 11:30 AM	#3 (permalink)
SouthernWebb04 You Want It, I Got It Join Date: Jun 2008 Location: Dallas, TX Posts: 381 vCash: 2767 Donate XBL Gamertag: SouthernDip Blog Entries: 2 Rep Power: 8	Re: Government takes control of Freddie Mac and Fannie Mae There's so many more things that are different knowadays, that our 'depression' can't be fairly judged compared to the old 'depression.' Either way, no matter how bad it gets, it will get better. Maybe that is what our country really needs. I know I speak for myself when I used to not cherish the dollar, nor use it wisely. I do now from maturity, but I don't think it'd hurt. __________________ TotalSportsWorld.net The Number One Sports Sim Community

09-08-2008, 11:33 AM	#4 (permalink)
oceanspraypink fun sized Join Date: Mar 2008 Location: South Carolina Posts: 1,455 vCash: 4022 Donate Rep Power: 39	Re: Government takes control of Freddie Mac and Fannie Mae What really suck about the economy right now is alot of people have lost their houses. Talk about a big hit on your credit. I read where some home owners don't even know who owns their houses.

09-09-2008, 09:44 AM	#5 (permalink)
b-ballmom PGP Batboy Join Date: Sep 2008 Location: East Coast Posts: 20 vCash: 1086 Donate Rep Power: 1	Re: Government takes control of Freddie Mac and Fannie Mae Wasn't the reason the two went private in the first place was because the government wasn't managing things right? I think it's rather a scary though putting more control back into federal hands. __________________ Basketball Tickets

09-09-2008, 10:06 AM	#6 (permalink)
RNPoo7 I heart brunettes Join Date: Nov 2006 Location: SC Posts: 2,346 vCash: 8894 Donate Rep Power: 62 Awards Showcase Total Awards: 2	Re: Government takes control of Freddie Mac and Fannie Mae Well I just found realized that the gov't took full control over them over teh weekend. I wasn't aware of that when I made my earlier post. Before, it was quasi connected with the gov't. Meaning that they were operating on their own but the gov't still had a huge stake in both of them. Like I said before, if the gov't didn't get full control of them and let them both go dodwn the hill, we WILL be in big trouble. However, this cycle happens every about 15 years. It has happened before with the fall of the S&Ls (savings and loans instutitions). The gov't did the same thing buy acuqiring them and saving their ass so that the econmony doesn't go haywire! __________________ 06 TSX 95 Del Sol S 00 Integra GS-R