We are now Owners of Fannie Mae and Freddie Mac

Started by dnalexander, September 07, 2008, 06:18:27 PM

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dnalexander

September 07, 2008, 06:18:27 PM Last Edit: September 07, 2008, 06:20:46 PM by dnalexander
We just became non-voting owners of Fannie Mae and Freddie Mac. I know we wont be silent partners.

Reuters Business Summary

Reuters
Saturday, September 6, 2008; 11:24 PM

Government plan for Fannie, Freddie to hit shareholders

WASHINGTON (Reuters) - The U.S. government plans to take over Fannie Mae (FNM.N) and Freddie Mac (FRE.N) and all shareholders of the two mortgage giants will take a hit, an influential lawmaker said on Saturday. The move to take control of the two companies, expected to be announced on Sunday, could amount to the largest financial bailout in the nation's history, and is a bid to ward off further damage to a housing market in its deepest downturn since the Great Depression.

sixdogsmom

#1
September 07, 2008, 06:56:19 PM
I am certainly excited!  :P :P :P
Edie

Warph

#2
September 08, 2008, 01:41:47 AM
 

Since the great depression... I thought we were still in it.
Yep!  Can hardly wait to turn my pockets inside out to help pay for them.  >:( >:( >:(
"Every once in a while I just have a compelling need to shoot my mouth off." 
--Warph

"If you don't have a sense of humor, you probably don't have any sense at all."
-- Warph

"A gun is like a parachute.  If you need one, and don't have one, you'll probably never need one again."

Diane Amberg

#3
September 08, 2008, 09:27:29 AM
I wonder how many golden parachutes we'll see now.
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