Wave Goodbye to Freddie Mac and Fannie Mae

[A.D. Miller]

Industry group proposes replacing Fannie, Freddie - Building Permits, Governmental Projects, Projects, Development, Workforce - Builder Magazine (http://www.builderonline.com/building-permits/industry-group-proposes-replacing-fannie-freddie.aspx?cid=BLDR090901002)

[Jim Luttrall]

Excuse me, but this is different from the current situation how? Seems that Fannie and Freddie used to be independent companies that became defacto federally backed when they were taken over by the feds. Are we talking about a new name for the same sh** or what?


A mortgage industry group wants Fannie Mae and Freddie Mac replaced with private companies that would be able to issue mortgage bonds formally backed by the federal government.

[A.D. Miller]

Excuse me, but this is different from the current situation how? Seems that Fannie and Freddie used to be independent companies that became defacto federally backed when they were taken over by the feds. Are we talking about a new name for the same sh** or what?

JL: It is the perennial shell game played here by the builders, the Congress, and the lenders. Nothing more. I am only curious to see what cute monikers they apply to the next round of the same old $hit.:D

[Jim Luttrall]

JL: It is the perennial shell game played here by the builders, the Congress, and the lenders. Nothing more. I am only curious to see what cute monikers they apply to the next round of the same old $hit.:D
Well, at least we can agree on that!

[James Foy]

This is in a similar vein to several other discussions I've been a party to lately regarding everything from 'agribusiness' to 'healthcare'. A certain large business or group of businesses (oligarchy?) 'donate' to enough politicians in order to get a government mandate that effectively guarantees their income.
So some Americans subsidize that business, and the unsubsidized businesses end up with a competitive disadvantage. In some cases, it raises the price of services across the board--such as mandates for HERS rating, etc.

[A.D. Miller]

This is in a similar vein to several other discussions I've been a party to lately regarding everything from 'agribusiness' to 'healthcare'. A certain large business or group of businesses (oligarchy?) 'donate' to enough politicians in order to get a government mandate that effectively guarantees their income.
So some Americans subsidize that business, and the unsubsidized businesses end up with a competitive disadvantage. In some cases, it raises the price of services across the board--such as mandates for HERS rating, etc.

JF: Yes, and this has been going on at least since the Egyptian dynasties.