U.S. government expected to seize Fannie Mae, Freddie Mac

[xyzer]

..
It's true that key Democrats opposed the Federal Housing Enterprise Regulatory Reform Act of 2005, which would have established a single, independent regulatory body with jurisdiction over Fannie and Freddie – a move that the Government Accountability Office had recommended in a 2004 report. Current House Banking Committee chairman Rep. Barney Frank of Massachusetts opposed legislation to reorganize oversight in 2000 (when Clinton was still president), 2003 and 2004, saying of the 2000 legislation that concern about Fannie and Freddie was "overblown." Just last summer, Senate Banking Committee chairman Chris Dodd called a Bush proposal for an independent agency to regulate the two entities "ill-advised."

Is it not true that if a free enterprise system remains unfettered natural corrections would quickly overcome poor loan techniques and politically correct solutions to poverty? Even when problems are suspected efforts at oversight and correction are influenced by pollitics rather than fair oversight rules? So government easily overcomes natural correction by stupid regulations and the influence of crooked politicians?

[namguy69]

Quote by: xyzer .. It's true that key democrats opposed the federal housing enterprise regulatory reform act of 2005, which would have established a single, independent regulatory body with jurisdiction over fannie and freddie – a move that the government accountability office had recommended in a 2004 report. Current house banking committee chairman rep. Barney frank of massachusetts opposed legislation to reorganize oversight in 2000 (when clinton was still president), 2003 and 2004, saying of the 2000 legislation that concern about fannie and freddie was "overblown." just last summer, senate banking committee chairman chris dodd called a bush proposal for an independent agency to regulate the two entities "ill-advised." is it not true that if a free enterprise system remains unfettered natural corrections would quickly overcome poor loan techniques and politically correct solutions to poverty? Even when problems are suspected efforts at oversight and correction are influenced by pollitics rather than fair oversight rules? So government easily overcomes natural correction by stupid regulations and the influence of crooked politicians?

excellent.....

[Nono]

Quote by: xyzer is it not true that if a free enterprise system remains unfettered natural corrections would quickly overcome poor loan techniques and politically correct solutions to poverty?

No. That's market-fundamentalist dreamland. That's Saint Ronald Reagan stuff -- rigid ideological orthodoxy. Not the real world.

And it has all been refuted by recent events.

Gosh, x, don't you read the papers??

[Kamehameha34]

I find it both interesting and, in a way, pathetic that socialist - types find examples of events like these that are caused by anything but a lack of government intervention, and blame it on that last vestiges of any 'free market'.

[Deadeye]

Today is Monday the Market is in the tank. Lost 500 plus points so far. So I guess the market doesn't like the bail out.

I also think that the market slide is a reflection in the minds of many traders minds that Obama will win. When the man who was the master mind of Fannie Mae....or was it Freddy Mac? is also Obama's trusted economic advisor people who invest in the future of the United States see a very dim future indeed.

[namguy69]

Yes, the future is dim, more so when the Federal Government has to bail out the Stock Market, in a round about way, with tax payers money I might add.