Fannie Mae and Freddie Mac
September 8th 2008 01:09
The seizure of Fannie Mae and Freddie Mac by the federal government is creating problems for many people. Shareholders are just learning that dividends are being eliminated. In addition, there will be a number of lobbyists out of work as those activities will be eliminated. As a taxpayer, this means that this entire liability falls on my back and all everyone other citizen of this country.
I am torn when I see something like this occur. On the one hand, we don’t need the federal government taking on publicly-traded companies. However, without the seizure we could have seen the stability of financial markets further jeopardized.
With some of the current economic issues we are dealing with, I suppose that there really was no other alternative. At this point, though we can expect that the exact monetary cost of this takeover will continue for many years to come.
I am torn when I see something like this occur. On the one hand, we don’t need the federal government taking on publicly-traded companies. However, without the seizure we could have seen the stability of financial markets further jeopardized.
With some of the current economic issues we are dealing with, I suppose that there really was no other alternative. At this point, though we can expect that the exact monetary cost of this takeover will continue for many years to come.
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Comment by S.L.
The Political Brief
Good, thought provoking post, though!
Comment by Cibbuano
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Fat Cult
Techbreak
You and I buy insurance in case we crash our cars, or hurt someone else... lenders should have to pay insurance to the govt in case they get into trouble...
Comment by Jen
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