Is Obama going to CHANGE the lending practices of Fannie Mae and Freddie Mac? ?

Privatizing these institutions is not going to make the problems go away, sooner or later the realities must be admitted and handled correctly, this is simply going to make future Americans pay for this mess.

Unemployment is /> 6% and rising, mortgages that are behind or in default > 9% and rising, and the U.S. debt now technically $5 trillion larger (not including unfunded liabilities like Medicare / Social Security).

Interesting that I don't hear anyone talking about these important issues during this round of American Idol (p)Residential (s)Election Edition. call it a coincidence.

are americans really that dumbed down...? i'm beginning to feel rather alone in my concerns...

Update:

edit* yes, i meant the DE-privatization

Update 2:

nothingchanges:

george bush doesn't even decide what's for dinner, let alone dictate any kind of financial policy...

Update 3:

Linda (McCain/Palin 08):

are you really that out of touch...? it just confirms my suspicions...

8 Answers

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  • 1 decade ago
    Best Answer

    um... They were taken over by government. That's the opposite of privatization.

    Yes, it's a put off. The inevitable will happen... but off of George Bush's watch.

    People are dumb. It's a fact of life. They don't understand Fed motives... or the stock market going up and down based on emotion. They just don't get it and never will.

    Linda proves my point exactly. She's for a Republican party and her argument is that the socializing of Fannie and Freddie were wonderful. If the stock market soars each time the government took over an industry, wouldn't that make socialism better? Just because we are essentially taking on more debt (backing securities) you're screaming whoopie? Call me an odd duck but I think the American people have more than enough debt to cover right now. The DOW will go back down. Give it a few.

    __

    Yes he does. He controls budgetary aspects. He cannot touch monetary policy. Fiscal policy creates dollar value drops and gains as well as a "spendy" government that hurts us with our lender nations.

  • 4 years ago

    The Democrats may have opposed this bill, but it doesn't matter since the Republicans were in charge in 2003, they had both the house, senate, and presidency. There may have been other things in the bill that caused the Democrats to balk. The buck stops here.

  • jero
    Lv 6
    1 decade ago

    The government has taken over, replacing the heads of the companies. Read the paper

  • fdm215
    Lv 7
    1 decade ago

    Obama? He hasn't made any such proposals. Republican deregulation led to the financial institutions run amok. How is that on Obama? Maybe Phil Gramm could explain how we got into this mess...

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  • 1 decade ago

    Have you seen the news this morning the Dow has soared since the control of these two companies have been taken by the goverment, and it was done by Bush. All you republican bashers

  • Anonymous
    1 decade ago

    There is NO WAY Obama can win anymore. They caught him on more lies.

    Everyone is giving up on him.

  • 1 decade ago

    Eeek, maybe read today's paper?

  • Anonymous
    1 decade ago

    No,Obama won't get that chance

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