Replies to post #108226 on Fannie Mae-No Politics (FNMA)

[obiterdictum]

Harry Reid, Obama at odds over future of government-backed lenders

By Karoun Demirjian (contact)
Friday, Aug. 9, 2013 | 2:18 p.m.

http://www.lasvegassun.com/news/2013/aug/09/harry-reid-obama-odds-over-future-government-back-/

President Barack Obama, much of Congress and leading housing experts and economists in Nevada may all be singing the praises of phasing out home-lending giants Fannie Mae and Freddie Mac.

But Senate Majority Leader Harry Reid isn’t joining in their refrain.

“I don’t agree with the president,” Reid told KNPR’s Dave Becker Friday morning during an episode of the radio program State of Nevada. “I’m going to look closely at his recommendations, but on the face, I don’t like them.”

Sepaking in Phoenix on Tuesday, Obama endorsed congressional efforts to end the role of government-backed Fannie Mae and Freddie Mac in insuring home loans and transferring more of their risk management responsibilities to the private sector

“The good news is, right now there’s a bipartisan group of senators working to end Fannie ad Freddie as we know them,” Obama said. “And I support these kinds of reform efforts.”

But Reid plainly does not.

“He says he wants to get rid of [Fannie and Freddie]. We’ve got to be very, very careful doing that,” Reid said. “I have no problem looking at them, revamping. But I think getting rid of them is not the right thing to do.”

A group of bipartisan Senate lawmakers, including Nevada Sen. Dean Heller, introduced a plan to wind down Fannie and Freddie in June. They hope to work on the legislation this fall.

[detearing]

Washington needs to wake up and get this shannigans overwith. Fed does not want to commit to having to bailout any company in the future, but sh_t happens. Government bailed out aig gm bac c wfc and even F, though ceo did not want it. Its like they think they toilet paper will longer be necessary...with current administration, they should have plenty.

I say keep FnF way it was for 70 years, and all the other companies they bailed out the way they were...let FnF finish paying back, end c-ship, return company to shareholders...

I think Blue is right, hedge funds offer will be accepted. Obama can even look good, he is savy like any other attorney/politician...he and Harry Reid could look real good for fixing it. Of course with more regulation. This would resolve many law suits and injustices against shareholders...Ralph Nader and bankers would come out publicly in support....

PPS back to highs in a week. Thats how it could be....dont you know me by now?

The stories I see on fnf remind me of when I was in CAR and KKD and many others at their lows...history will again prove right and fnf will return to highs.