We're All Homeowners: Nationalization of Fannie, Freddie Unavoidable

Isn't it amazing ... over the decades ... Some would argue with good cause, it goes all the way back to 1913 or so with the creation of the "FED" ... we just continue to move to being the United Socialist States of America. Whose to blame ... find the closest mirror ... and take a good look. Even back to the days of the great Depression ... look at photos from that era ... there is still determination in their eyes ... Folks there were VERY reluctant to accept the offer of government help, and when they did they did so with great reservation. NOW, we just stand in line with our collective hands out. Probably one of the better examples of the sheeple we have become is Katrina. Compare that terrible, terrible disaster with another, the 1906 San Francisco Earthquake ... Where was FEMA, The Federal Government Handouts ... it was the people, helping people along with what the Federal and State government could do .. NOT EXPECTED to do. Perhaps this is why I really fear the outcome of another great depression, I am afraid we no long have the metal that it takes to survive.

The sad part is, most of America takes the news headlines to heart, even though they spin things to say what they want them to... America is too lazy to do the leg-work to see the REAL story, and like sheep to slaughter is being led blindly down a road they will soon find they didn't want to go on in the first place. Goodbye Democracy, hello Socialism. By the way, when are they changing the name of our once-fine country?? Anyone know when it officially goes to the Socialist States of Amerika? ; )

How about the people that profited and made millions and millions on the "privatization of fred and fan" Do ya hear me Bill Simon estate?? it should have remained nationalized.Greed.How many times do you need new curtains in the 4th vacatiion house? - let the rest of us live.

Well, mulanijem , you're doing a pretty good job pretending you're an "illeagle", what with the spelling and all. By the way, what would the process be wherein equity holders of these "whales" would be "wiped out" by nationalization?

Government involvement in the real estate market and mortgage business is not the solution and is a large part of the problem. Easy money, distributed by the GSE's and backed by the U.S., has fueled real estate price inflation. More government involvement is only going to make problems worse for many years to come. Home ownership is a privilege earned by those who are financially responsible, it is not a right.

why do house have to be so expensive doesnt everyone have a right to have a home of thier own?

Government involvement in the real estate market and mortgage business is not the solution and is a large part of the problem. Easy money, distributed by the GSE's and backed by the U.S., has fueled real estate price inflation. More government involvement is only going to make problems worse for many years to come. Home ownership is a privilege earned by those who are financially responsible, it is not a right.

Half right - half wrong. The two Fannie Mae and Freeie Mac are indeed GSE's - government sponsored enterprises. The problem began a few years ago when Congress PRIVATIZED the two entities. Both were quite solvent (and of course very desired by Wall Street) then. Now the raw, bleeding road-kill carcasses are back with the government (less solvency, of course). It seems that capitalism and greed are often confused in the minds of those with money. I'd not blame the government for this fiasco.

I'm guessing that no one will give these guys an interview and that's why they are stuck with the opinion of Minyanville staffers... I'm impressed...

It's Gosbank USA http://www.itulip.com/forums/showthread.php?p=32553#post32553

Hey, don't worry everybody, Bernanke said subprime is contained!

remember Bush speech ? He called for lenders to help poor and immigrants buy houses because it gives them a stake in America.Greenspan repeated reference to equity homeowners could access and therefore were in good financial shape tho out of work.Outsourcing jobs they said might be a problem for a generation or two of Americans;but in the long run a good thing.Bush said he supported a strong dollar ;but Greenspan et al said dollar must drop to compete with Asians.Oil is valued in dollars.So our expenses are up,income zero.Tap the equity per Greenspan.Live in house tapped out until evicted.

Too many ignorant 18 to 23 year old kids not understandng how close to communism they are getting. Sadly all Obama needs to do is to tell them the government will take over everything in the USA and they are ready to vote him in. People read your history books. Learn why and on what America became a nation. Now go read the economic legacy of any Communist or Marxist state..... .... or do they even teach this today?

Let's Nationalize everything while we are at it...it is the nature of good socialism. After all, there are many good examples of how countries have nationalized their resources and made it equally owned by all...Russia did it during the Bolshevik revolution and the USSR resulted. Yeah, that didn't work, but China did it after world war II and their communism is still in place... well, they are unwinding it now and embracing capitalism too... Never mind, I guess it doesn't really work

"Nationalizing would mean tighter regulation so firms can no longer make risky investments". Optimist. Nationalizing will put the units in the hands of the kind of bureaucrats that gave us the Katrina response. The government has been messing with homeownership too much for decades. Owning a home has been seen as essential, despite the negative effects on the economy: owners are locked in when jobs are scarce locally. While reducing interference would have to be phased in, every subsidy should go, including the mortgage tax deduction.

The largest downfall to capitalism is greed. Left unchecked and you get the fiasco's we have today. Regulation is a good thing. It also serves exactly what we want our government to do, protect the people. Protecting the people isn't done with just a gun.

Comrades, all hail the USSA. My guess is we have about 10 years before we go the same way as the USSR: down in flames, a potential break up of states, and a currency worth the paper it is printed on.

You are all not only sheep, but you are suckers. Your banking system has earned billions upon billions of profits, by selling phoney paper to Fannie Mae. Now Fannie Mae is insolvent. And you're stuck with the tab. Anyone hear of any bankers being asked to give back their seven figure bonuses? No I didn't think so. That would be just utterly unthinkable. LOL?

For all you people with th "Communist States of Amerika" ideas, leave, go to another country. Oh I forgot, you can't.The houses in other countries are way to expensive.You sell your house cheap here and then with the dollar in the toilet, the exchange rate will kill you. In case you haven't noticed, the personal freedoms we have held so dear, have been eroding along with the dollar and housing, and personal wealth, ha, dang it!

I gave up and sold my house to HUD with a reverse annunity mortgage. Hope I get a COLA since we now live on Social Security. Don't have to drive more than 15 miles in any direction. We are honkered down and ready. FNMA and FHLMC are just quasi government agencies anyway. HELLO SOCIALIZM!