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Last week’s announcements of first half results from Fannie Mae and Freddie Mac exposed the dire straits they are in. By its own rosy fair-value accounting, Freddie is already insolvent. Fannie is in better shape, but a string of heavy losses may have left it fatally weakened. Since
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10 months ago
In his widely panned March 25th address on the economy, John McCain essentially blamed American homeowners teetering on the brink of foreclosure for their plight, insisting any assistance must be temporary and must not reward people who were irresponsible at the expense of those who weren
10 months ago
They must get help, or the nations housing prices will just get worse. People won't be able to get loans.
We need help now! Let's put the money here instead of in Iraq (who has a surplus by the way)
Why is it we can send billions out to other countries, but can help out our own country in a time of need??????????
10 months ago
Was it the homeowners all across the country that worked for businesses that couldn't keep going due to the gas prices, thus losing their homes because they no longer had a job.
This just keeps snowballing. People lose their jobs, can't pay gas, can't pay their mortgages.... and on and on.
Fannie Mae and Freddie Mac didn't cause them to lose their jobs.
If there was ever a time for government to step in, I think it would be NOW.