Pardon me while I rant a bit.....sometimes we sit here in the bleachers in amazemennt at what is happening in our world. But wait....we are tax payers and really are not just up in the bleachers....we are all in this game whether we like it or not. Did you see the news a couple days ago?
The Federal Home Loan Mortgage Corporation, commonly known as Freddie Mac, is a privately-owned and run government sponsored enterprise (GSE) of the United States federal government. It is a stockholder-owned corporation, authorized to make loans and loan guarantees.
The Federal National Mortgage Association, commonly known as Fannie Mae, is a privately owned and run government sponsored enterprise (GSE) of the United States. It is a stockholder-owned corporation authorized to make loans and loan guarantees.
On September 7, 2008, the U.S. Government took control of both Fannie Mae and Freddie Mac.
Translation....the governmentt bailed them out because they were financing loans they had no place financing and went under. People took out loans on homes they really couldn't afford and they couldn't make the payments. Bottom line...it is going to cost the American people like 200 BILLION dollars because people thought they needed a house they couldn't afford. One of the talking heads said that next thing we know people will lose their live savings in Las Vegas and the govt will be expected to bail them out. Crazy! I think this is insane and here is the scary part....now those same people will turn around and do the same thing because they have that govt safety net.....a net made up of all of our tax dollars coming from those who handle their money responsibly and don't live in homes their pay checks don't support. Yes, I know it is terrible for those people facing this financial problem. We have had some tough times also. What a shame the govt can't keep us all safe, happy, healthy, and we can all live in beautiful homes of our choices. Womb to tomb..... I am not saying I handle money perfectly, but I rarely use my charge card and I have never had things I can't afford. I don't think the govt "fixing" this thing will help in the long run. I guess I see it as a parent who gets their delinquent kid out of jail every time they get into trouble....the kid keeps getting into trouble...and govt will have to keep on "fixing" everything and our children and grandchildren will inherit a country in financial ruin.
The Federal National Mortgage Association, commonly known as Fannie Mae, is a privately owned and run government sponsored enterprise (GSE) of the United States. It is a stockholder-owned corporation authorized to make loans and loan guarantees.
On September 7, 2008, the U.S. Government took control of both Fannie Mae and Freddie Mac.
Translation....the governmentt bailed them out because they were financing loans they had no place financing and went under. People took out loans on homes they really couldn't afford and they couldn't make the payments. Bottom line...it is going to cost the American people like 200 BILLION dollars because people thought they needed a house they couldn't afford. One of the talking heads said that next thing we know people will lose their live savings in Las Vegas and the govt will be expected to bail them out. Crazy! I think this is insane and here is the scary part....now those same people will turn around and do the same thing because they have that govt safety net.....a net made up of all of our tax dollars coming from those who handle their money responsibly and don't live in homes their pay checks don't support. Yes, I know it is terrible for those people facing this financial problem. We have had some tough times also. What a shame the govt can't keep us all safe, happy, healthy, and we can all live in beautiful homes of our choices. Womb to tomb..... I am not saying I handle money perfectly, but I rarely use my charge card and I have never had things I can't afford. I don't think the govt "fixing" this thing will help in the long run. I guess I see it as a parent who gets their delinquent kid out of jail every time they get into trouble....the kid keeps getting into trouble...and govt will have to keep on "fixing" everything and our children and grandchildren will inherit a country in financial ruin.
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AND just what do you think about our generation running up TRILLIONS of dollars of debt that DOES have to be repaid. That we are slowly but surely selling out to the foreign countries that HATE us by borrowing from them?
Yes, we are skating on thin ice on many fronts!
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