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Are Reporters Financially Illiterate? Fannie and Freddie Are Called “Government-Sponsored Enterprises” for a Reason

Started by cordblomquist · 10 months ago

Right now, the federal government, at a huge cost to taxpayers of perhaps $100 billion, is bailing out the two government-backed mortgage giants, Fannie Mae and Freddie Mac — the so-called GSEs.  “GSE” stands for Government- ... Continue reading »

15 comments

  • Floyd R. Turbo

    10 months ago

    As usual, we taxpayers are screwed. And screwed. And screwed again, for the umpteenth time. Will we ever learn? Apparently not. Guv'mint ain't necessarily the answer, folks. Can it get more obvious? Reagan was SO right. Guv'mint is so often the PROBLEM. And we elected the guys/gals that made it so. For DECADES.
    reply
  • KungPow

    10 months ago

    Clearly Palin is way ahead of her cretin critics. Her "gaffe" is their ignorance.
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  • Jim

    10 months ago

    They are private when showing privates, but government sponsored when there are losses. Sweet deal.
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  • Jim

    10 months ago

    That's profits- not privates.
    reply
  • Andy

    10 months ago

    I think they're anything but private when showing privates.
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  • Cory

    10 months ago

    Thank you for this! I hope it gets the coverage it is due.
    reply
  • dana

    10 months ago

    This agency was and is a mess. Led by many liberal, democrats and financed in part (and now in whole) by the taxpayers, it is another government blackhole. And Obama has his stench all around it. Top advisors were running the organization, throwing money his way and squelching any attempts to reform. I wonder how long it will be before the mainstream media points this out? *crickets*
    reply
  • Kris

    10 months ago

    The creep of socialism is ever present. We're going to need to come together to express our collective outrage. McCain and Palin have already release a joint statement detailing once again their promise to reign in such fiscally irresponsible program such as these.

    The WSJ has it all in black and white. Easy to read and easy to understand. We need REAL change - something only McCain and Palin will bring this election cycle:

    http://online.wsj.com/article/SB122091995349512...
    reply
  • kris

    10 months ago

    The creep of socialism is ever present. We're going to need to come together to express our collective outrage. McCain and Palin have already release a joint statement detailing once again their promise to reign in such fiscally irresponsible program such as these.

    The WSJ has it all in black and white. Easy to read and easy to understand. We need REAL change - something only McCain and Palin will bring this election cycle:

    http://online.wsj.com/article/SB122091995349512...
    reply
  • Andrea

    10 months ago

    It is ridiculous to think that McCain is interested in anything about the Presidency except the Commander in Chief post. He has repeatedly said that economics aren't his strong point, and has made it perfectly clear that he will dependon his Democratic advisors to draft policies.

    Palin is a fool, if for no other reason than she tied herself to his legacy.

    4 more years of Bush isn't change.
    reply
  • gp

    10 months ago

    "Are Reporters Financially Illiterate?" Hell yes! And they know even less about science, engineering, and math in general. Worst of all, if you notify them about their errors, they rarely post corrections.
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  • Michael

    10 months ago

    This seems to be more of a failure to communicate than anything else. I have yet to hear a reporter claim that the bailout will not cost taxpayers any money (and your link does not direct to an example). When they claim that Fannie and Freddie do not cost the taxpayers money, reporters are referring to the period before the buyout, when Mae and Mac were supposedly acting as private enterprises (its debatable how much they indirectly cost taxpayers at that period in time - note: Michelle Malkin is not the best source on which to base you $10 billion claim). Palin's comments were unclear as to whether she was referring to the period before or after the buyout. If she was referring to the period after, she is absolutely correct. If she is referring to the period before, her assertion is a bit shakey, although not necessarily false. If she was implying that they were government agencies the way FEMA is a gov't agency, then there might be grounds to question her knowledge of the subject.
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  • jdc

    10 months ago

    The "blackhole" is American politics. Do you really think it matters who is in the Whitehouse or congress, for that matter anywhere in the political arena of this country? They are all playing with the same broken toys in the same sandbox and not a one of them are going to "change" anything about it. Why would they? We Americans keep accepting whatever they do and saying "Oh well, maybe next time". It is so true that common sense is un-common.
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  • NowTell That

    10 months ago

    We're the most TAXED People in the free world. Upon their Billion dollar a day WAR, now we are REQUIRED to pay for their CORRUPTION? A DEBT of $100 Billion plus to cover the tolling debt of Freddie and Frannie...is not only on our backs but the backs of our children and grand-children. This is FINANCIAL GENOCIDE.
    reply
  • jdc

    10 months ago

    I have a great idea! How about the IRS seizes the assets of the multi-billion dollar companies, some of the richest this world has ever seen, who have not paid taxes since 1998 and use the revenue from those sales to pay off Freddie and Fannie? I think that would be fair to all the people who pay more than their share of taxes already. Why should we carry the burden when we don't make the bad business decisions? Someone made money on this deal, lets find out who.
    reply

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