Politics
Politics
Out of context: Reply #289
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On September 7, 2008, FHFA director Lockhart announced he had put Fannie Mae and Freddie Mac under the conservatorship of the FHFA.[10][3] The action is "one of the most sweeping government interventions in private financial markets in decades".[11] U.S. Treasury Secretary Henry M. Paulson , appearing at the same press conference, stated that placing the two GSEs into conservatorship was a decision he fully supported, and said that he advised "that conservatorship was the only form in which I would commit taxpayer money to the GSEs." He further said that "I attribute the need for today's action primarily to the inherent conflict and flawed business model embedded in the GSE structure, and to the ongoing housing correction.".[12]
- My friends, if this were private the market would have corrected it long ago just like Bear Stearns.********
- My friends, Charles Keating would never have let this happen********
- i have to say i agree w/cap. this is what happens when you let the gov't run something like this...sputnik2
- ...and give people loans which they definitely couldn't otherwise afford.sputnik2
- My friends, if this were private the market would have corrected it long ago just like Bear Stearns.