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Federal National Mortgage Association Message Board

  • tlynch81 tlynch81 Nov 20, 2013 11:02 AM Flag

    This isn't good - Opposition to Re-capitalization

    http://www.businessweek.com/news/2013-11-20/obama-opposes-recapitalizing-fannie-mae-nec-s-sperling-says-1

    “I want to make clear, the Obama administration believes the risks are too great that this model would recreate the risks of the past,” Sperling said today in a Washington speech.

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    • Public policy written and passed by the elected officials is what torpeadoed Fannie and Freddie. Fannie and Freddie worked fine for 50 years. Their business model is fine if elected officials don't manipulate them into forcibly receiving junk loans. Another example progressive liberals trying to give free stuff away to people who are not willing to work for it. Fannie and Freddie are coming back with a vengance. Current administration cannot continue to steal from them much longer and the elected officials know it.

    • "Obamacare has been a resounding success" said no person ever.

      Government should not be in the business of doing business.

    • It doesn't make sense. Gene Sperling is typical of Obama's administration: errogant, not taking no for an answer, offering no true apology, gearing country to wrong direction.

    • This is not new. Obamma has been an enemy of fannie shareholders since he took office. His idea is to take fannie shareholders money and use it for his social projects, namely health care.

    • This news could be good for a little sell off but ultimately I don't think he can stop the momentum. There could be good buying opportunities over the next couple days though.

    • manipulation_decipherer manipulation_decipherer Nov 20, 2013 11:14 AM Flag

      "President Barack Obama would reject proposals by hedge funds to recapitalize Fannie Mae (FNMA:US) and Freddie Mac (FMCC:US), National Economic Council Director Gene Sperling said."

      President Obama is opposed to take over for control of Fannie and Freddie by private hedge funds. But he is not opposed to Fannie and Freddie retaining their profits to build up their capitals. I am sure that Sperling was one of the architects of the Sweep Agreement and is leaving the Administration like all other architects left!

    • “I want to make clear, the Obama administration believes the risks are too great that this model would recreate the risks of the past,”

      DID HE read the proposal? NOPE. I want to make it clear, they dont want the backing of the USA.
      the risks of the past is with deregulation of banks. THESE GUYS ARE IDIOTS. FDR knew what he was doing.

 
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