Comments on: Fannie & Freddie: Science Projects Gone Wrong

By: Steve

Steve — Tue, 25 Nov 2008 07:31:34 +0000

Geez that’s a lot of my tax dollars! I know that Iraq is costing $10bil a month (but at least we’re getting something out of it!), but $50billion a quarter! What has Fannie Mae or Freddie Mac done for this money? That’s what I’d like to know!!!

By: mike higgins

mike higgins — Mon, 17 Nov 2008 12:27:08 +0000

Which is worse, two finncial activities that had congressional approval to evntually fail, or the congressional oversight activities that looked the other way and let it happen? Isn’t it odd the timing of their failure? Coincidence, I think not.

By: B Scott

B Scott — Sat, 15 Nov 2008 20:49:39 +0000

Answer for Mike, they,ve put something in the constituents water supplies.

By: chuck

chuck — Fri, 14 Nov 2008 21:30:32 +0000

Brian Freddie and Frannie are examples of how GSE fall into the blackholes.
Beside a science project,Frannie and Freddie would make terrific business case studies on how hybrid enterprises go wrong. Seriously. I wonder what would a Harvard Business Professor would say,Wharton Business Professor would say too. Bet it would make interesting reading from a business academic POV.

By: Ordinary Guy

Ordinary Guy — Fri, 14 Nov 2008 20:03:43 +0000

Actually, Freddie and Fanny were binary black holes that have combined to from a Super Massive Black Hole. Due to the SMB’s super dense material, orbiting stars, named Logic and Reason, have been devoured and have crossed the event horizon. If we could see them, their forms would be stretched beyond recognition trapped at the event horizon forever. The only evidence of their existence is the bright jet light from the burning money radiating into the void.

By: Jan

Jan — Fri, 14 Nov 2008 18:42:52 +0000

Thanks for explaining this, because the public just doesn’t seem to understand the undercurrent of Freddie Mac and Fannie Mae, and just how much they have to do with Congress!

By: Bob

Bob — Fri, 14 Nov 2008 18:30:51 +0000

Brian, I am in real estate in Arizona. I sell foreclosures for Fannie Mae. You are so right. I used to think they were bleeding cash, but in that case the cash is laying around for others to use. You are right, it seems to be sucking it in to try to prop up the paper. The paper is lost.

Our number of VACANT homes on th emls are actually going up in the last 2 months. Demand will be the only thing that brings us out and it’s not really there. People have very little interest in adding more leverage. Investors know the demand is weak so they feel no need to get what everyone else does not want. Buyers include only 3 types here:
People looking for a home to live in for awhile.
Investors with cash willing to make a long term buy and hold.
People trying to buy and bail on the old house(it can still be done).

Thats it!

By: Mike

Mike — Fri, 14 Nov 2008 17:05:44 +0000

Huck wrote that this is being done “AGAINST THE WILL OF THE CONSTITUENTS”, but if that is truely the case why did the consituents vote them all back into congress and give them even more power?

By: huck

huck — Fri, 14 Nov 2008 16:34:32 +0000

The thing is this project is killing the economy – AGAINST THE WILL OF THE CONSTITUENTS.

By: Shawn

Shawn — Fri, 14 Nov 2008 15:28:40 +0000

Brian
Great artical. I gat a laugh from it for just a minute but then reality sinks in and it makes you want to CRY.