August 20, 2008

FLASH: Fannie Mae and Freddie Mac Will Fail. (Oops, we wrote that three years ago. But here's the latest on Fannie and Freddie failing...)


First they ignore you,
then they laugh at you,
then they fight you,
then you win.

P.S. Hey, America, ya got another trillion or so to bail out the lobbyist-and-executive-bonus-fueled, corruption-enabled, mortgage-fraud-powered debacle at Fannie and Freddie? I mean, who needed kids to be educated? Who needed new bridges and roads? Who needed food for the poor? Who needed health care? Who needed jobs? Who needed retirements?

Silly Americans.

WAKE UP AMERICA!!! Vote 'em all out. Every REIC corrupted pig in DC who let this happen. Democrat. Republican. It doesn't matter.

And think about what the trillion-plus for Fannie and Freddie, and the trillion-plus for the Iraq Debacle could have done for America.

Fannie and Freddie shares hit 18-year low

NEW YORK (Reuters) - Shares of Fannie Mae (NYSE:FNM - News) and Freddie Mac (NYSE:FRE - News) dove to their lowest levels in more than 18 years on mounting fears of a government bailout that would wipe out shareholders of the two U.S. housing finance giants.

The two federally chartered companies own or guarantee almost half of all outstanding U.S. mortgages. The government is relying heavily on them to step up mortgage purchases and help stabilize the worst U.S. housing market since the Great Depression.

36 comments:

Anonymous said...

You do realize that Fannie and Freddie Mac are projects from the Democratic party, right?

keith said...

"You do realize that Fannie and Freddie Mac are projects from the Democratic party, right?"

GOOD GOD HOW HARD DO I HAVE TO BLOG UNTIL SOME OF YOU IDIOTS DROP THE DEMOCRAT AND REPUBLICAN THING?

BOTH PARTIES SUCK. BOTH PARTIES ARE REIC-CORRUPTED. GET IT?

Anonymous said...

So what your saying is democrats are good and republicans are bad?

Snicker................

If you pimp the obaminator even one more time your above post holds no merit.

Edgar Alpo said...

FNM & FRE must survive, they exude large amounts of graft.

Anonymous said...

Keith,

Relax. I feel your pain. Americanos are hopelessly stupid beyond belief. It doesn't matter how hard/how much you blog, they have been brainwashed by too much TV and Brittany, Jenn, Olympics, beach volleyball freaks, etc. Just don't try and take their cheese doodles or NASCAR or $4/gal gas away from them and you should be out of danger.

Can you IMAGINE a fully armed US citizenry? Darwin would be working 24/7 to keep up...

Not Enough bullets.

Special Treatment, do it now.

les said...

Freddie and Fannie has lost its way. They were created to help those who would have trouble getting mortgages(i.e. first time buyers, low-income buyers). In the past, they backed house purchases whose value was below the national average. But, in the last ten years they virtually bought every stupid mortgage sent to them. They became a clearing house for banks to make more foolish loans. Everybody made unrealistic loans because they knew Fannie and Freddie were buying without investigation.

In my opinion, Freddie and Fannie are responsible for this financial nightmare. The US should not bail them out. In fact, it would be better if they disappeared altogether.

michael said...

"WAKE UP AMERICA!!! Vote 'em all out."

yet you are advocating promoting one from senator to president.

you are quite confusing at times.

Anonymous said...

Kieth, stop this crazy talk, next you'll be saying to not buy stuff on credit.

Who do I vote for again, Democrates or Republicans?

My vote counts, RIGHT....Whats on TV tonight.........

Peter T said...

If Fannie and Freddie fail, who will provide our senators and represenatatives with the money they need to convince us to reelect them? Fannie and Freddie have been quite generous in the past, isn't it time that the money receivers return the favor? Showing gratitude is moral.

If Fannie and Freddie fail, we have indeed Housing Panic, and we don't want that, would we?

tissue talk said...

Well blow my nose!

FNM & FRE are talking to the regulators -- who would have thunk it? You heard it here first that it was only a matter of time before the taxpayer-funded bailing began.

Man the lifeboats. Women and children first (after my bonus, of course)!

Anyone know why the market went up today?

JordanT said...

yet you are advocating promoting one from senator to president.

That's because we currently have no other choice, we either have McCain or Obama. Is there a third viable choice for president we don't know about? However, many of us will have the chance to vote against the incumbent Senator or Representative in the upcoming elections. He's saying where you have a choice vote the incumbents out of office, no matter if they have a letter R or D attached to their name.

Anonymous said...

I NEED THE ANDREW HAC'INATOR!!!!

I feel like a druggie waiting for his fix!

Haven't had it in a while... where did he go?

COME ON!!! I CAN'T WAIT!!

Just gimme some more "Americano is a skewered snapper turtle on a bamboo stake..."

... just a little?

I NEED IT!!!!!!

casey's b@tch said...

I just bout 10000 share on freddie mac today.We will see what happens this weekI expect a major short covering rally here soon.The shorts have just destroyed these two companies.
As cramer says, the game is rigged.

Anonymous said...

Fannie and Freddie down only 95%. Some crash.


DOPES!!!

bobby trendy said...

Did any of you catch the new gay show called million dollar listing on bravo? Features three queers from hollywood trying outsell each other.What a mess ca has become.

One guy was trying to get business because he heard the owner died.Anything for a buck.

Anonymous said...

GOOD GOD HOW HARD DO I HAVE TO BLOG UNTIL SOME OF YOU IDIOTS DROP THE DEMOCRAT AND REPUBLICAN THING?
---------------------------------

Keith,

how many times do you have to say that before you realize that 95% of the american public are idiots?

I am getting kind of tired hearing you repeat it over and over and over.

Anonymous said...

Freddie and Fannie has lost its way. They were created to help those who would have trouble getting mortgages(i.e. first time buyers, low-income buyers).

----------------------------------

True but their original mission was a lost cause, doomed to fail. There is a reason why that level of home buyer couldn't get a mortgage. It was because they couldn't afford one! The only solution for low income buyers was to either a) lower the cost of homes or b) raise their income.

bickerer said...

So, does this mean one was a stark raving fool if bought fnm in Oct. 07 (ages after the HP sell recommendation went out) for 67 and change.

That's a tough question. After all, what do you want for nothin, Rubber Biscuit????

For those of you too young to know, (wish I were one of you) this is Dan Aykroyd on SNL.

http://tinyurl.com/6jaluw



.

Anonymous said...

That's because we currently have no other choice, we either have McCain or Obama. Is there a third viable choice for president we don't know about?
-----------------------------------

write in ron paul.

How is it ok to put obama into the white house but not my senator? my senator is the best choice of the two choices I have....

Idiots, you all are idiots.

Anonymous said...

If McLoser is not careful he could turn this into a rout before the dems convention at which point they may decide to nominate hillary.

Bob the Snapper Turtle said...

I have been thoroughly roasted, fats all bubblying up, from head to toe, nicely simmering.

I can no longer sing honk-tonk in my Ford F250, or worship the Dubya Shrub. The Americano is toast.

Paul E. Math said...

Keith, Keith, Keith. You filthy Republicans are so transparent. It's obvious that you only want Obama to win because you know that no matter what the next president does it will be a failure.

Whoever the next president is they will only be a 1-termer and you're hoping for 2 terms of Bush III (Jeb) beginning in 2012.

Sad, Keith, really sad.

:)

Anonymous said...

"You do realize that Fannie and Freddie Mac are projects from the Democratic party, right?...democrats are good and republicans are bad? "

Heh.

They have us RIGHT WHERE THEY WANT US: at each other instead of them.

What all the partisan horsecrap and acrimony could not accomplish, economic reality soon will.

The only question left is who to blame and(see above) there is solid evidence people suck that shit up.

michael said...

"That's because we currently have no other choice..."

i love how HPers constantly reference the "sheeple" but when it comes to voting they are just like the rest of them.

democrats fall in love.

republicans fall in line.

this election i will not vote for either. first time ever.

vanilla ice said...

"BOTH PARTIES SUCK. BOTH PARTIES ARE REIC-CORRUPTED. GET IT?"

For at least half of each party. I agree the parties suck total ass. I can't remember ever voting for either party unless there was no one else to vote for.

And as far as Freddie and Fannie, let em fail. I would say there's a distinct possibility ranging 50-50. The 25% that won't fail is Paulson swooping in and buying all the shares he can get his hands on with his, oops I mean our hard earned cash.

If they do fail watch out. And if somehow the government doesn't catch them as they fail I will be a very happy person. Let the disaster begin.

Anonymous said...

The US should not bail them out.
_____________________
Bill rushed through and signed by all in a matter of days. 700 pages submitted to senate on Fri a few weeks ago, approved on Sat. No way they had time to read it.
Done deal. Our country has lost its way. BTW Russia owned 35% of the shares. China and Japan have some, too. We have guaranteed them with our tax dollars.

Anonymous said...

Well, Well, another fine mess you've gotting me into Ole.

Northern Rock said...

The posts on stock message boards from all the FNM and FRE bag holders that thought they were geniuses are beautiful. Freddie, Fannie, hi I'm Northern Rock nice to meet you.

Anonymous said...

please make a list of the realwhores in washington that let this corrupt ponzi bankrupt the country.

where are the F%$#@! arrests?

Anonymous said...

I am surprised that we have not heard of any class action lawsuits against the NAR.

where are all those bloodsucking lawyers when you need'em?

SeattleMoose said...

Before WE have to pay for this debacle, how about taking ALL the assets of all the Wallstreet/Finance CEOs and all their partners in crime?

I'm talkin everything....the jaguars, guard gated mansions, overseas RE investments, offshore banking accounts.....EVERYTHING!!!

Let all the SOBs who caused this and profited during the orgy step up and be accountable for their actions.....

Anonymous said...

Keith,

Your boy Ron Paul just endorsed Don Young...lmao...

JordanT said...

write in ron paul.

I said viable, Ron Paul has no chance to win. If he was the Republican candidate he'd have my vote. Lots of people have a decent choice and can vote the incumbents in competitive races. If only they could get over whether or not somebody has an R or D in front of their name.

Anonymous said...

BOTH PARTIES SUCK. BOTH PARTIES ARE REIC-CORRUPTED. GET IT?

No, you're the one who don't make any sense. If both parties suck, why are you trolling for Obama like a sissy cheerleader here, knowing very well that if he wins the Democratic party will control both the Executive and Congress? Are you mad? The country is bankrupt and you want one single party to control everything?

You don't make any sense whatsoever. At least have some convictions man, don't play the expat kissing the European trash hipster's arse.

And no, I'm not a Democrat nor Republican.

Anonymous said...

Let it go folks, another union member who pressed buttons in a machine for a few years and is now living the high life, while the automakers are bankrupt:

FLINT, Mich. --
There are loyal customers, and then there's Joseph Macko.

The 84-year-old Flint man has bought or leased a new Cadillac every year since 1955, the year Disneyland opened in Anaheim, Calif., and Rosa Parks refused to give up her seat on a Montgomery, Ala., bus.

"You only live one time. Money is to spend," he told The Flint Journal. "I spend it once I get it."

Macko, a retired General Motors Corp. worker, used to buy a new car every year, but he's been leasing the last few years. Last week, he drove home this year's fresh set of wheels - a black 2009 Cadillac DTS - from the Al Serra Auto Plaza in Grand Blanc.

"He looks forward every year to buying a new car," said Gordon Taylor, who has been Macko's salesman for 22 years. "He wants that same vehicle."


Geez, I didn't see union members like that on Michael Moore's flicks. According to the fatso Moore, union parasites from automakers are all living under a bridge and starving.

DOPES

Reality said...

"There is a reason why that level of home buyer couldn't get a mortgage. It was because they couldn't afford one! The only solution for low income buyers was to either a) lower the cost of homes or b) raise their income."

Mostly agree . . . just want to add that there is a (c):

(c) the government lower taxes and spending, so that the cost of houses and loans do not get out of reach of low income workers. Every single government taxing, borrowing and spending program is crowding out the market place for private loans. That's why FNM was invented as a government agency to counteract the detrimental effect of FDR's big government program was having on the very people it was supposed to help. Of course, this salve only made the problem worse in the long run, like practically all of FDR's programs.