The Saloon dot net :: Government seizes control of Fannie Mae and Freddie Mac

The closest historical analogy to the Fannie-Freddie crisis is the rescue of the Farm Credit and savings and loan systems in the late 1980s, said Bert Ely, a banking consultant who has been a longtime critic of the mortgage finance companies.

The savings and loan bailout followed years of high interest rates and risky lending practices and ultimately cost taxpayers roughly $124 billion, with the banking industry kicking in another $30 billion, Ely said

More>>>

Posted to:

Main Page

Business

Comments

Re: Government seizes control of Fannie Mae and Freddie Mac

by volatile.memory on Mon 08 Sep 2008 11:50 AM EDT | Profile | Permanent Link

What BS. His dad bails out the S&Ls and Jr. gets the mortgage companies. What about free enterprise? Let them fail... the economy will take a hit... then it will recover. We did just fine through the ups and downs prior to The New Deal... the market will right itself. The Fed should keep its hands off.

Trackbacks

TrackBack URL:
http://thesaloon.net/blog/_trackback/3874210

No trackbacks found.

Post comment:

Format Type:
	Convert newlines
	Receive comment notifications for this article
Subject:

Comment:

Comment verification:

Please enter the text you see inside the graphic to post your comment:

You are not currently logged in. If you would like your user information to be displayed with your comment, please enter your login information below.

Username:
Password:

If you would like to post contact information on your comment, please enter your information into the optional fields below:

Contact information:

Name:
URL:		example: http://yourdomain.com
Email:

Please note: email will not be displayed on the site, only for the blog owner. If logged in, URL will only be used.

Recent Comments

Re: Glenn Beck Interviews Craig T. Nelson About Government Responsibilty

Re: Chavez steals American oil company project

Re: Obama accidently posts list of sensitive US nuclear sites online

Re: Re: Re: Crystal Shinkle: A Coward says What?

Re: Re: Couple: County Trying To Stop Home Bible Studies

Other Good Spots

BlackFive

House of Eratosthenes

Intellectual Conservative

Michael Johns

Michelle Malkin

Newsbusters

The Nose on Your Face

Weasel Zippers

The content on Thesaloon.net, except all Submissions (defined below) is owned by or licensed to Thesaloon.net, subject to copyright and other intellectual property rights under the United States and international intellectual property laws and conventions. Content on Thesaloon.net is provided for personal use only and may not be used, copied, reproduced, distributed, transmitted, broadcast, displayed, sold, licensed, or otherwise exploited for any purpose without the prior written consent of the respective owners. You agree to not engage in the use, copying, or distribution of any of the content other than expressly permitted herein, including any use, copying, or distribution of Submissions of third parties obtained through the Thesaloon.net website for any commercial purposes. Thesaloon.net permits the submission of text, photographs, opinions, comments and/or other forms of communication submitted by you and other users ("Submissions") and the hosting, sharing and publication of such Submissions. You agree that you are solely responsible for your own Submissions and affirm, represent, and/or warrant that you own or have the necessary licenses, rights, consents, and permissions to use and authorize Thesaloon.net to use all patent trademark, trade secret, copyright or other proprietary rights in and to any and all Submissions to enable inclusion and use of the Submissions in the manner contemplated by Thesaloon.net. You retain all ownership rights in your Submissions. However, by submitting the Submissions to Thesaloon.net, you hereby grant Thesaloon.net a non-exclusive, royalty-free, sublicenseable and transferable license to use, reproduce, distribute, prepare derivative works of, display, and perform the Submissions in connection with Thesaloon.net and Thesaloon.net’s business, including without limitation for promoting and redistributing part or all of Thesaloon.net (and derivative works thereof) in any media formats and through any media channels/outlets. Thesaloon.net does not permit or allow copyright infringing activities and/or infringement of intellectual property rights on Thesaloon.net's website, and Thesaloon.net will remove any and all content and Submissions if properly notified that such content and/or Submission infringes on another's intellectual property rights.