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In reply to the discussion: Obama says it is time to wind down Fannie and Freddie- let private investors have bigger role [View all]SharonAnn
(13,781 posts)52. In this case, private lending took the profits and left government (taxpayers) with losses.
It was another example of the banking industry being reckless because they don't have to pay the consequences.
What Obama is saying is that if the banks are reckless, they should pay the consequences.
Fannie Mae and Freddie Mac were great ideas until the banking industry learned how to manipulate them to the banks benefits (and the taxpayers' loss).
Preventing banks from stealing our money is an ongoing challenge.
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Obama says it is time to wind down Fannie and Freddie- let private investors have bigger role [View all]
cali
Aug 2013
OP
In this case, private lending took the profits and left government (taxpayers) with losses.
SharonAnn
Aug 2013
#52
That seemed to be the implication if you follow the argument to its logical conclusion
GiaGiovanni
Aug 2013
#20
Your telling avoidance of the simple word "no" in response to my simple question amused me.
MotherPetrie
Aug 2013
#41
He was talking about in terms of what these private organizations already engage in.
ProSense
Aug 2013
#21
What a shock. Another bad republican idea being sold by a nominal Democrat. n/t
Egalitarian Thug
Aug 2013
#9
Our "limited government role" appears to be to bail out the Capitalists after they screw us.
Tierra_y_Libertad
Aug 2013
#10
I heard Jared Bernstein,a spokesperson for the administration I believe,
senseandsensibility
Aug 2013
#12
He just wants to remove the guarantee of a federal bailout if investors fuck up again.
millennialmax
Aug 2013
#16
" limited government role" until they need cash. The President gave us a gift on his birthday.
Safetykitten
Aug 2013
#18
Fannie Mae, at least, isn't a "private" company in the strictest sense
HoneychildMooseMoss
Aug 2013
#44
Excellent, another Republican approved plan Obama is jumping on board with
LondonReign2
Aug 2013
#32