Plans to Take Over Fannie Mae and Freddie Mac

[justbroke]

U.S. Treasury secretary announces plan to take over troubled mortgage giants Fannie Mae and Freddie Mac.

Looks like it's going to happen. Just announced on CNN. I don't feel so bad having filed Bankruptcy when even the biggest Mortgage Banks in history, are failing.

[Minnymouth]

You know what bothers me about all this where the govt. jumps in and bails them out ------ their bailing them out on MY TAXES...........
I didn't see anyone standing there offering to bail me out when I had to file bankruptcy.............
Freddie and Fannie Mac are corporations..... just like any other corporation.

How many corporations are we as "tax payers" going to have to "bail out" to get the economy back on track?

Nobody is "bailing us out" when its needed!!!

[JRScott]

Basically this was a bad idea.

It places possibly an addition 5 trillion dollars on the backs of taxpayers. Personally I live in a run down trailer that I've done a lot of repairs too. If I have to pay for other folks homes, I want a home and land of my own. I know that sounds kinda selfish but it would only be fair.

Folks don't realize how bad our country's finances are in. Basically this will increase the rate at which the various entitlement programs will become insolvent.

They should have let Freddie and Fannie fail. By rewarding bad behavior you encourage it. Yes it might have meant short term credit would have dried up in this country, but that might have been a good thing, it would have forced people to live within their means. It would have caused us as a nation to reexamine our situation and we would have come out stronger in the end. Instead we have some false government bailout to increase the burden on an already overtaxed population. The only people the government helped with this was the investors and wall street, it did nothing to help the common good or the welfare of the average American.

[JollyGG]