fany mae and freddie mac close down !!!!

Discussion in 'OFF-Topic / Misc.' started by joy17782, Jul 11, 2008.

  1. joy17782

    joy17782 Member

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    ok guys if you got money in these banks wanted too let you know that the feds just took over the bank 30 mins ago , ok were in a deppresion what the hell is next !!!!!
     
  2. Njaco

    Njaco The Pop-Tart Whisperer
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    They always operated with the belief that the government would back them up. I'm guessing thats all this is. We'll see.
     
  3. joy17782

    joy17782 Member

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    yeah i thing big companies think that us tax payers can bale there butts out ,just like all the welfare we give people . they think they can get it too
     
  4. evangilder

    evangilder "Shooter"
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    The government did NOT take over these two. The government seized the assets of IndyMac bank. It is still being determined what will happen with Freddie Mac and Fannie Mae.

     
  5. Wayne Little

    Wayne Little Well-Known Member

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    So on a scale of 1 to 10, 10 being worst how bad IS this situation?
     
  6. evangilder

    evangilder "Shooter"
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    Hard to say. There were, and still are, a number of companies that did risky mortgages to unsuspecting people who wanted to get into their own homes. The time has come to pay the fiddler for bad business decisions. I think it will get worse before it gets better, but I don't see a depression out of it. We are in a recession now, I don't give a rip how the fed wants to spin it.
     
  7. Aussie1001

    Aussie1001 Member

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    we can nearly get 1 us doller for our 1 au doller....
     
  8. Wayne Little

    Wayne Little Well-Known Member

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    Thanks Eric!:)
     
  9. Thorlifter

    Thorlifter Well-Known Member

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    Yeah, it's hard to say Wayne. It depends on who you ask so here is how I see it..........

    Are businesses closing? Yes. Because gas is expensive, is it leading to almost everything to get more expensive? Yes. Does the economy need some help? Yes.

    But..........

    Are there still new skyscrapers being built everywhere? Yes. Is Porsche and Mercedes have record years in auto sales? Yes. Are people still traveling? Yes, it's just costing a little more.

    Things will be fine. Over time, everything has always gotten more expensive. My grandmother paid $5,000 for a brand new house.........back in 1946. It's just how it happens.
     
  10. Aussie1001

    Aussie1001 Member

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    Agree Thor however if oil prices per barrel don't go down the prices of nearly everything will go up think of how much in your daily life has been freighted on a semi or a ship or a train at one stage or another, they all use oil in one stage or another...
     
  11. Haztoys

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