Replies to post #17365 on Freddie Mac-No Politics (FMCC)

[KELLYCO]

The pump and dumpers would say it was the sacred cow.
I say it is just flabby old diseased beef.
I'm watching for the real economic collapse.
The stage was set for the last one and it is set once again.
Though neither is new.
This was all started by JP Morgan in 1907

http://en.wikipedia.org/wiki/Panic_of_1907

"The panic may have deepened if not for the intervention of financier J. P. Morgan, who pledged large sums of his own money, and convinced other New York bankers to do the same, to shore up the banking system. At the time, the United States did not have a central bank to inject liquidity back into the market. By November the financial contagion had largely ended, yet a further crisis emerged when a large brokerage firm borrowed heavily using the stock of Tennessee Coal, Iron and Railroad Company (TC&I) as collateral. Collapse of TC&I's stock price was averted by an emergency takeover by Morgan's U.S. Steel Corporation—a move approved by anti-monopolist president Theodore Roosevelt. The following year, Senator Nelson W. Aldrich established and chaired a commission to investigate the crisis and propose future solutions, leading to the creation of the Federal Reserve System."

To enable the creation of a central banking system including one for mortgages.
A banking system where the banks did not have to take the risks.
And once again created huge monopolies.

[zoobadooba]

i think so. refinancing is happening to people can start to pay their mortgages which is more money going into freddie. also the govt is gonna want this up so they reach at least break even when they sell it off. home prices are extremely low which mean there is tons of room for growth which translates to high worth assets owned by freddie mac. it may take another year or two to fully clean up the balance sheets but thats nothing. ill wait 10 years to see $60 bucks no problem.

[zoobadooba]

i think so. refinancing is happening to people can start to pay their mortgages which is more money going into freddie. also the govt is gonna want this up so they reach at least break even when they sell it off. home prices are extremely low which mean there is tons of room for growth which translates to high worth assets owned by freddie mac. it may take another year or two to fully clean up the balance sheets but thats nothing. ill wait 10 years to see $60 bucks no problem.