Looks like Wayne Angel’s idea is increasingly becoming necessary for FNM/FRE. Can’t have both stabilize FNM/FRE to save the world and bailout plan focused to protect taxpayers. If FNM/FRE is to attract long term bond investors again, Treasury needs to pump in lots of capital in to FNM/FRE practically at no cost or very little cost to both companies. Investors want to see fattened FNM/FRE once again. $100B is there but only as needed basis to backstop losses. Not good enough to boost investors confidence again. Unless FNM/FRE can attract long term investors, mortgage rates will not stabilize and costs to FNM/FRE will only increase. Good to hear government trying to stop further foreclosures but they need to do more to lower the mortgage rates to clear the available houses in the market. Paulson needs to redo the bailout terms for FNM/FRE to attract investors not for taxpayers, can't have both to save the world, IMO.
Paulson is the worst possible bloodsucker for this job. These pigs are looting America into poverty. This is nothing short of TREASON!This info. was posted a month ago & people still voted in most of the incumbents. Perhaps their new hispanic voter base helped. Social programs & entitlments will be providing a majority in two minorities w/in 10 years. If you think they don't listen to the people now. Look out. They will succeed in eliminating the middle class, while profiting off of the impoverished masses. Goldman Sachs announced they will be cutting over 3,200 jobs. Approximately 10% of it's total workforce. Henry Paulson (Secretary of Treasury) and Neil Kashkiri (Senior Advisor to Sec. Treas.) left Goldman Sachs in 2006. Paulsen leaving with a reported severence pay of $500,000,000.00. Goldman Sachs was of the first nine banks to recieve bailout injection funds including Merrill Lynch, Bank of America, JPMorgan Chase, Citigroup, Wells Fargo, Bank of New York, and State Street Corporation. All banks receiving $125,000,000,000.00 with loan guarantees covering the next three years. There are no guarantees in place to protect the little guy. These banks are not required to lend these funds nor required to restructure their board of directors the lead these banks into the current turmoil. Paulson has done nothing to limit or halt Golden Parachutes. It is reported that Morgan Stanley will get $10,000,000,000.00 in tax dollars while dishing out $10,700,000,000.00 in compensation this year alone while it's stock value fell $34,700,000,000.00 since the beginning of the fiscal year. Do we get a thank you card from these executives for their enormous severence packages?
As I mentioned in a previous post, my eye is on the game, not how to make the shot...
I think as long a Mr Paulson continues to port our tax dollars over to his buddies (with no restrictions), we will never see the end of this.
I think they seized the wrong enterprises.
Stop AIG from bad management - let the Fed step in and correct these idiots.
Fannie & Freddie should be allowed to raise capital on their own - the Feds can match the shareholders and everybody will win if Congress will do their job and regulate the way they were suppose to.
Hey - "Buy Stock In America"!!!
The shareholders, as always, should have voting rights and and can start by capping the bonuses to a respectable level.
Face it Congress made the mistake for not regulating - not the banks, mortgage companies or the poor family trying to get their first loan. Seems everyone was on the honor system. The same system that is being used now. Careful that all this doesn't break the will of America - by making us wards of the state.
However, if a crime has been committed, then that individual should not be allowed to walk away with less than what was stolen or obtained under false pretenses. If they cannot pay - then jail time will serve a lesson for the next person who believes that crime does pay. This list should include Congress and anyone who looked the other way when they swore to uphold the law and server their country.
Pray and send letters to your Congressman. It's your patriotic duty!