Feds Takeover set for Freddie Mac and Fannie Mae!

[thewiseguy]

Forget about Palin...My god is this for real? :wow:

The federal government has prepared a plan to take control of troubled mortgage giants Fannie Mae and Freddie Mac, several newspapers reported Friday night.

The Washington Post reported on its Web site that government officials had told the two companies that their top executives would be dismissed and government funds used to prop them up. The New York Times said the company boards also would be replaced.

The Times described the plan as effectively a government bailout that could cost taxpayers tens of billions of dollars and would be among the largest rescues in U.S. history.

http://www.msnbc.msn.com/id/26567533/

How much money would the feds have to use in order to rescue these two mortgage giants?

[girl gone mad]

1. Yes, it's for real. Friday night dump.

See here:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=114x42670

[thewiseguy]

4. How much money are we talking about?

[stray cat]

6. Greater than 10 billion and potentially rising

[thewiseguy]

8. The article is saying tens of billions

I suspect it could be way more than that.

[RUMMYisFROSTED]

17. $25,000,000,000.00 plus (link)

http://www.npr.org/templates/story/story.php?storyId=92778024

[cliffordu]

2. Can we send the scumsuckers to PRISON now??

[stray cat]

3. How much am I going to have to pay in taxes to bail out Freddy and Fannie?

[cottonseed]

5. Remember the last 2 X-mast stories about million dollar bonuses on Wall Street?

Well, this is basically us paying for it.

[Thrill]

7. That good ole Conservative Republican in the WH

[proud patriot]

9. This makes me so pissed off at republicans

:grr:

[ChimpersMcSmirkers]

10. I've heard someone say that "Recession is partly psychological and not inevitable".

http://www.ontheissues.org/john_mccain.htm

[thewiseguy]

11. The treasury will brief Obama's campaign team tomorrow

This is going to be gigantic.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aBY8f3smq5k0&refer=home

[crimsonblue]

12. So the failed experiment is over

Remember, both were federally controlled until 78, when the Dem congress privatized them to write off some public debt. These companies should be federally controlled, because it will add stability to the housing market. I've been saying that the Feds need to do this for almost a year.

[redqueen]

14. Talk about a springboard for Obama

to re-introduce the American people to the concept of responsible government oversight.

[crimsonblue]

15. It was a gimmick in 78

With a flailing economy, the Dems wanted to make t look like they were doing something. They 'reduced' the debt by billions. I hope people can believe again in an effective governent. Bush did his best to duck it up

[redqueen]

13. Yes it's real. And we saw it coming.

Tens of billions is a conservative estimate I'd think.

[Neshanic]

16. Our Chinese overlords are gettin nervous. They told us so a week ago I think.