Comments on: Freddie, Fannie Bailouts Leave American Taxpayers Footing the Bill http://www.dailyreckoning.com.au/freddie-fannie-bailouts-leave-american-taxpayers-footing-the-bill/2008/09/10/ An independent perspective on the Australian and global investment markets Mon, 22 Mar 2010 11:41:53 +0000 http://wordpress.org/?v=2.8 hourly 1 By: Viryam Robertson http://www.dailyreckoning.com.au/freddie-fannie-bailouts-leave-american-taxpayers-footing-the-bill/2008/09/10/comment-page-1/#comment-41636 Viryam Robertson Tue, 16 Sep 2008 08:11:07 +0000 http://www.dailyreckoning.com.au/?p=3675#comment-41636 It's very easy. Obama's agenda, just like all the Democrats and all the Republicans for some time now, has involved the systematic looting of national wealth as an un-named but well-planned agenda. This is not financial "mismanagement". The money goes somewhere! Mostly into the pockets of the select few who set up the financial organisations which they now collapse with everyone else's money (not their own) on board. They will be very happy to take billions of dollars in 'bailout' money, because it will go the same way as the rest of the capital. It's very easy. Obama's agenda, just like all the Democrats and all the Republicans for some time now, has involved the systematic looting of national wealth as an un-named but well-planned agenda. This is not financial "mismanagement". The money goes somewhere! Mostly into the pockets of the select few who set up the financial organisations which they now collapse with everyone else's money (not their own) on board. They will be very happy to take billions of dollars in 'bailout' money, because it will go the same way as the rest of the capital.

]]> By: Steven Christie http://www.dailyreckoning.com.au/freddie-fannie-bailouts-leave-american-taxpayers-footing-the-bill/2008/09/10/comment-page-1/#comment-41131 Steven Christie Fri, 12 Sep 2008 15:53:53 +0000 http://www.dailyreckoning.com.au/?p=3675#comment-41131 Am I totally out to lunch or has anyone else noted the stark dissonance between all the news flap about how our Federal debt load has nowbeen shot from the stratosphere out into deep space, versus the stuff that Obama has been saying he’s going to do ? He only recently went from vague inspiring speeches about 'change' to actually naming a few things he would do as president. It was rather sad to hear then that he’s promising to do more of the same thing that got into all this debt mess with mortgages, medicare, and the S&L fracas awhile ago: promising Americans and American businesses with difficulties that they will be taken care of no matter how stupid they have been. This of course will be done by raising taxes, thus forcing the less stupid among us to finance all of the destructive stupidity instead of letting the stupid ones fail and have to learn to behave less stupidly. Everyone hears his speeches on this. They also hear the doom and gloom stuff on our economy and how our debt mountain just morphed into an Everest. But I haven’t heard a peep about how dramatically these two things clash…I don’t get it. Am I totally out to lunch or has anyone else noted the stark dissonance between all the news flap about how our Federal debt load has nowbeen shot from the stratosphere out into deep space, versus the stuff that Obama has been saying he’s going to do ? He only recently went from vague inspiring speeches about 'change' to actually naming a few things he would do as president. It was rather sad to hear then that he’s promising to do more of the same thing that got into all this debt mess with mortgages, medicare, and the S&L fracas awhile ago: promising Americans and American businesses with difficulties that they will be taken care of no matter how stupid they have been. This of course will be done by raising taxes, thus forcing the less stupid among us to finance all of the destructive stupidity instead of letting the stupid ones
fail and have to learn to behave less stupidly.

Everyone hears his speeches on this. They also hear the doom and gloom stuff on our economy and how our debt mountain just morphed
into an Everest. But I haven’t heard a peep about how dramatically these two things clash…I don’t get it.

]]> By: GaryB http://www.dailyreckoning.com.au/freddie-fannie-bailouts-leave-american-taxpayers-footing-the-bill/2008/09/10/comment-page-1/#comment-40926 GaryB Thu, 11 Sep 2008 01:17:00 +0000 http://www.dailyreckoning.com.au/?p=3675#comment-40926 In Australia, if you get into trouble with your mortgage loan becuase your house is worth less than what's owed and you walk away, the bank will chase you to the grave for the difference. But in the US, a mortgage defaulter with negative equity in his or her house can legally just hand over the keys and walk. No individual responsibility. It's good if you're a battler - being homeless is bad enough without having a bank on your back. But what a flakey way for a country to provide for welfare housing, because that's what it amounts to. And then there is the poor regulation of US loan providers, as revealed by the sub-prime debacle. You have to ask what were investment managers in the US, China, Japan, and elsewhere smoking when they invested in US mortgage bonds and/or shares in US morgage providers. In Australia, if you get into trouble with your mortgage loan becuase your house is worth less than what's owed and you walk away, the bank will chase you to the grave for the difference. But in the US, a mortgage defaulter with negative equity in his or her house can legally just hand over the keys and walk. No individual responsibility. It's good if you're a battler - being homeless is bad enough without having a bank on your back. But what a flakey way for a country to provide for welfare housing, because that's what it amounts to. And then there is the poor regulation of US loan providers, as revealed by the sub-prime debacle. You have to ask what were investment managers in the US, China, Japan, and elsewhere smoking when they invested in US mortgage bonds and/or shares in US morgage providers.

]]> By: KevinM http://www.dailyreckoning.com.au/freddie-fannie-bailouts-leave-american-taxpayers-footing-the-bill/2008/09/10/comment-page-1/#comment-40870 KevinM Wed, 10 Sep 2008 17:24:10 +0000 http://www.dailyreckoning.com.au/?p=3675#comment-40870 Help! I'm trying to learn who owns the MBS issued by Fannie, Freddia and the independants. Where can I find a good estimate, some data, a pie chart? Help!
I'm trying to learn who owns the MBS issued by Fannie, Freddia and the independants. Where can I find a good estimate, some data, a pie chart?

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