Comments on: How Fannie met Freddie: The True Hollywood Story of Fannie Mae and Freddie Mac. http://www.doctorhousingbubble.com/how-fannie-met-freddie-the-true-hollywood-story-of-fannie-mae-and-freddie-mac/ How I Learned to Love Southern California and Forget the Housing Bubble Tue, 06 Jan 2009 22:05:46 +0000 http://wordpress.org/?v=2.2.2 By: mikke http://www.doctorhousingbubble.com/how-fannie-met-freddie-the-true-hollywood-story-of-fannie-mae-and-freddie-mac/#comment-20016 mikke Mon, 14 Jul 2008 20:31:56 +0000 http://www.doctorhousingbubble.com/how-fannie-met-freddie-the-true-hollywood-story-of-fannie-mae-and-freddie-mac/#comment-20016 Concentrating profits and socializing costs has ALWAYS been the basis of market economies. What do you think "profit" and "growth" are? They are the cream, and they are skimmed, and many get the whey so some can get the good stuff. We're all implicated in this, and judging by how many people will stint their kids on good food rather than changing their fossil energy consumption, most of us choose to remain implicated. You don't think you pay full cost for every mile you drive in your car, do you? Of course you don't. Everyone in the world pays so the few can drive (and fly, and develop land, and go on cruises, and so on). Storming the Capitol and hanging bankers from lamp posts I suppose meets the criterion of a good fantasy wankaroo for some. But the fact is, a much larger redefining is needed. Before I retired I spent 30 years working for organizations doing that thinking and trying to build mechanisms for it. Suffice it to say, I don't have a lot of hope it can happen here in the US, where saving, working, investing (in something real), and taking responsibility for one's actions are considered the activities of suckers and chumps. mik Concentrating profits and socializing costs has ALWAYS been the basis of market economies. What do you think “profit” and “growth” are? They are the cream, and they are skimmed, and many get the whey so some can get the good stuff.

We’re all implicated in this, and judging by how many people will stint their kids on good food rather than changing their fossil energy consumption, most of us choose to remain implicated. You don’t think you pay full cost for every mile you drive in your car, do you? Of course you don’t. Everyone in the world pays so the few can drive (and fly, and develop land, and go on cruises, and so on).

Storming the Capitol and hanging bankers from lamp posts I suppose meets the criterion of a good fantasy wankaroo for some. But the fact is, a much larger redefining is needed. Before I retired I spent 30 years working for organizations doing that thinking and trying to build mechanisms for it. Suffice it to say, I don’t have a lot of hope it can happen here in the US, where saving, working, investing (in something real), and taking responsibility for one’s actions are considered the activities of suckers and chumps.

mik

]]> By: Scott http://www.doctorhousingbubble.com/how-fannie-met-freddie-the-true-hollywood-story-of-fannie-mae-and-freddie-mac/#comment-19927 Scott Sun, 13 Jul 2008 20:10:42 +0000 http://www.doctorhousingbubble.com/how-fannie-met-freddie-the-true-hollywood-story-of-fannie-mae-and-freddie-mac/#comment-19927 Gael I think you've summarized the situation very nicely. There is no 'solution'. Now to add another problem for Mr. Bernanke I read that Indymac's collapse will consume 10% of the FDIC's insurance reserve. Indymac was just a middling sized bank. Wachovia, to name just one and one that is offering even higher CD rates than Indymac did to attract deposits and whose share price is crumbling, is something on the order of 20 times the size of Indymac. The FDIC only had a little over $50 billion in reserves. You have a Wamu or Wachovia fail and those reserves are gone. It would appear the FDIC never envisaged anything more than some small to middling sized bank failures and if those are coming so too is the very real danger of huge regional banks and even the mega banks crumbling. Gael I think you’ve summarized the situation very nicely. There is no ’solution’. Now to add another problem for Mr. Bernanke I read that Indymac’s collapse will consume 10% of the FDIC’s insurance reserve. Indymac was just a middling sized bank. Wachovia, to name just one and one that is offering even higher CD rates than Indymac did to attract deposits and whose share price is crumbling, is something on the order of 20 times the size of Indymac. The FDIC only had a little over $50 billion in reserves. You have a Wamu or Wachovia fail and those reserves are gone. It would appear the FDIC never envisaged anything more than some small to middling sized bank failures and if those are coming so too is the very real danger of huge regional banks and even the mega banks crumbling.

]]> By: gael http://www.doctorhousingbubble.com/how-fannie-met-freddie-the-true-hollywood-story-of-fannie-mae-and-freddie-mac/#comment-19922 gael Sun, 13 Jul 2008 18:27:38 +0000 http://www.doctorhousingbubble.com/how-fannie-met-freddie-the-true-hollywood-story-of-fannie-mae-and-freddie-mac/#comment-19922 Phew! That didn't seem like AnnScott. Anyone see this article? http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4322440.ece Uh, how is 15 billion dollars going to help two troubled possible insolvent companies fix a problem estimated to cost 300 billion? Are they expecting other bill spenders to throw more money into the pile? Cause if not, isnt it the same as just throwing that money away? Is this being done with the idea that these efforts will prop up home prices? If home prices continue to fall aren't more losses guaranteed? If home prices don't fall won't the real estate market still be locked up since most people don't have the salary to afford homes at today's prices without creative loans like ARMs and such? What do you think? Phew! That didn’t seem like AnnScott.

Anyone see this article?
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4322440.ece

Uh, how is 15 billion dollars going to help two troubled possible insolvent companies fix a problem estimated to cost 300 billion? Are they expecting other bill spenders to throw more money into the pile? Cause if not, isnt it the same as just throwing that money away?

Is this being done with the idea that these efforts will prop up home prices? If home prices continue to fall aren’t more losses guaranteed? If home prices don’t fall won’t the real estate market still be locked up since most people don’t have the salary to afford homes at today’s prices without creative loans like ARMs and such? What do you think?

]]> By: exit http://www.doctorhousingbubble.com/how-fannie-met-freddie-the-true-hollywood-story-of-fannie-mae-and-freddie-mac/#comment-19916 exit Sun, 13 Jul 2008 15:54:21 +0000 http://www.doctorhousingbubble.com/how-fannie-met-freddie-the-true-hollywood-story-of-fannie-mae-and-freddie-mac/#comment-19916 Um, I'm having a hard time believing the 'real' AnnScott posted that. For one, she posts long comments. For two, when she expresses an opinion, she cites figures and sources. And for three, she responds to other posters by name when she 'calls someone out'. If I'm wrong, so be it... but that would surprise me. Um, I’m having a hard time believing the ‘real’ AnnScott posted that.

For one, she posts long comments. For two, when she expresses an opinion, she cites figures and sources. And for three, she responds to other posters by name when she ‘calls someone out’. If I’m wrong, so be it… but that would surprise me.

]]> By: AnnScott http://www.doctorhousingbubble.com/how-fannie-met-freddie-the-true-hollywood-story-of-fannie-mae-and-freddie-mac/#comment-19894 AnnScott Sun, 13 Jul 2008 11:55:24 +0000 http://www.doctorhousingbubble.com/how-fannie-met-freddie-the-true-hollywood-story-of-fannie-mae-and-freddie-mac/#comment-19894 "Comment by AnnScott All you “neocon” ‘haters’ need to keep your opinions to yourself. (Theres enough “Bushies” telling us what to do alreddy.) ****Don’t tell us what you think WE need. ****You dont have the answeres. ****Neocon-Bushie-Haters caused these problems" _____________________________ I DID NOT WIRTE THIS!!! I WAS AT THE BEACH ALL THAT DAY. SOME WEIRDO HAS APPROPRIATED MY ID!!!!!!!!! BETTER CHECK THE EMAIL ADDRESS COMING IN WITH POSTS DOC!!!! “Comment by AnnScott

All you “neocon” ‘haters’ need to keep your opinions to yourself. (Theres enough “Bushies” telling us what to do alreddy.)
****Don’t tell us what you think WE need.
****You dont have the answeres.
****Neocon-Bushie-Haters caused these problems”

_____________________________

I DID NOT WIRTE THIS!!!

I WAS AT THE BEACH ALL THAT DAY.

SOME WEIRDO HAS APPROPRIATED MY ID!!!!!!!!!

BETTER CHECK THE EMAIL ADDRESS COMING IN WITH POSTS DOC!!!!

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