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Officials announce takeover of mortgage giants
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GP | 9:39 a.m. Sept. 7, 2008
More deception/ corruption related to Mr. Bush's administration. Not sure
how ANYONE could vote to extend the Republican reign after so many complete
disasters over eight years.
A shining example of capitalism! | 9:40 a.m. Sept. 7, 2008
Wow. It's not even socialism anymore; it's just blatant communism.
Zacko | 10:19 a.m. Sept. 7, 2008
Yeah, I'm sure the Federal Govt can make this all better.
They are the masters of efficiency.
They are the masters of efficiency.
Comments continue below
Robin | 10:40 a.m. Sept. 7, 2008
Another Government Layer in the non-Government Republican ideology of
privitization to greedy people doing the "right thing".
kathyn | 10:44 a.m. Sept. 7, 2008
It's troubling when the gov't has to bail out all of these giant
businesses. What it really boils down to is that the American people are going
to have to foot the bill (again.)
Some regulating is good; but the gov't never did anything more efficiently than the private sector, and I see it as another boondoggle. Wouldn't it be better to let these businesses face the consequences? Brighter minds than mine have struggled with what to do, but I don't see how we can keep pumping money into these businesses that we don't really have. The Fed keeps printing more and more money and it's ultimately going to cause the dollar to tumble. It feels like a house of cards.
Some regulating is good; but the gov't never did anything more efficiently than the private sector, and I see it as another boondoggle. Wouldn't it be better to let these businesses face the consequences? Brighter minds than mine have struggled with what to do, but I don't see how we can keep pumping money into these businesses that we don't really have. The Fed keeps printing more and more money and it's ultimately going to cause the dollar to tumble. It feels like a house of cards.
Shame on all of Us | 11:25 a.m. Sept. 7, 2008
So long as Americans insist on electing to office, people who believe in leaving
it up to the CEO's, and not to allow government regulators any power, we
will continue to see fiascos such as the housing finance crisis.
We supposedly pay the business leaders tons of money because their expertise merits it, fool me once, shame on you, fool me twice, shame on me.
Well shame on all of us, we deserve it.
We supposedly pay the business leaders tons of money because their expertise merits it, fool me once, shame on you, fool me twice, shame on me.
Well shame on all of us, we deserve it.
Question | 11:28 a.m. Sept. 7, 2008
What would Sarah do?
Selective | 11:41 a.m. Sept. 7, 2008
Put the messages up ALL of them Des News.
Clinton's to blame | 11:43 a.m. Sept. 7, 2008
I'm sure most conservatives will find a way to blame Clinton. After all,
the Republican Party is the party of personal accountability. As long as they
are held accountable.
Bush, McCain, Palin | 11:52 a.m. Sept. 7, 2008
Thanks republicans. Thanks for the terrible economy, the dead in a war that was
wrong, and for a future that is bleak. Thanks everyone.
Sheep? what is the answer... come on, you know what it is............
Sheep? what is the answer... come on, you know what it is............
I'm torn | 12:08 p.m. Sept. 7, 2008
On the one hand if these companies failed it really would effect a lot of people
on the other hand bailing them out with my tax dollars is pure socialism. All I
can say is if I'm part owner in these companies now they had better change
their practices so they start making money, meaning no more loans to people who
can't pay them back. If that means 90% of the people can't get loans
anymore and house prices crash 50% so be it. It's better than turning our
country into a socialist nation just because our government deems a company too
big to fail.
Stewart | 12:54 p.m. Sept. 7, 2008
This article states that it could cost taxpayers tens of billions, actually it
could cost hundreds of billions. I don't believe what it says when they say
stock holders lose almost everything, nor do I believe that these executives are
leaving without millions of dollars in payoffs.
Since taxes are not being raised to pay for these hundred billion dollar give aways from the government, it is a good thing that there is a "free lunch." The "free lunch" however, is nothing more than tomorrow's inflation. Watch out you that have been saving and are not the beneficiaries of these government handouts.
Since taxes are not being raised to pay for these hundred billion dollar give aways from the government, it is a good thing that there is a "free lunch." The "free lunch" however, is nothing more than tomorrow's inflation. Watch out you that have been saving and are not the beneficiaries of these government handouts.
Vote Bob Barr | 12:58 p.m. Sept. 7, 2008
How long will it take to undo that which the Bush administration has corrupted.
Unfortunately Americans have lamented to having to choose between a borderline
Communist and a liberal Republican.
Bob Barr '08
Bob Barr '08
Trickle down | 1:46 p.m. Sept. 7, 2008
Having a VP that can gut a moose will help us!
You were promised a booming economy from trickle down economics. This was going to rise salaries and the average America's standard of living. "All boats rise in a rising tide."
Dear Torn, we wouldn't be bailing out these companies if unregulated business worked. Why aren't you complaining about socialist Utahans? Utah gets more federal dollars than Utahan pay in.
This is intellectually amazing to observe. At what point will people change their world views if all the facts show their paradigm doesn't work?
The classic view is that, when faced with problems, people should adapt to over come them.
In 1776, the GDP of America was small, life was simpler and there was no global economics. You think, the same solutions will work today? You didn't need to worry about health care when doctors used leeches.
Nowhere on earth you will find a pure form of capitalism. Do you wonder why? People are just inanely stupid? Did economic systems adapt to solve problems encountered with capitalism?
On the other side; more socialist European nations have free markets. There are no government run cafes in Sweden.
You were promised a booming economy from trickle down economics. This was going to rise salaries and the average America's standard of living. "All boats rise in a rising tide."
Dear Torn, we wouldn't be bailing out these companies if unregulated business worked. Why aren't you complaining about socialist Utahans? Utah gets more federal dollars than Utahan pay in.
This is intellectually amazing to observe. At what point will people change their world views if all the facts show their paradigm doesn't work?
The classic view is that, when faced with problems, people should adapt to over come them.
In 1776, the GDP of America was small, life was simpler and there was no global economics. You think, the same solutions will work today? You didn't need to worry about health care when doctors used leeches.
Nowhere on earth you will find a pure form of capitalism. Do you wonder why? People are just inanely stupid? Did economic systems adapt to solve problems encountered with capitalism?
On the other side; more socialist European nations have free markets. There are no government run cafes in Sweden.
Carl | 2:00 p.m. Sept. 7, 2008
Clinton left Bush a budget surplus. Yes, a liberal democrat. And 8 years of
Bush and 6 years of a Republican controlled Congress left us this huge deficit
and economic wasteland. I don't want to hear any more Republican talk
about "tax and spend" liberals anymore. The Republicans take that
honor. NEXT?
We are being mislead | 3:07 p.m. Sept. 7, 2008
I refuse to believe that the leaders of freddy and fanny did a bad job. They
made millions in pay, and had their taxes cut, which is what republicans said
was necessary for them to be able to have the motivation to lead well.
So there must be some other reason for the failure.
So there must be some other reason for the failure.
Arven | 3:49 p.m. Sept. 7, 2008
It was not Clinton it was the two administration before him. Clinton just rode
the waves is all.
not that long ago | 4:14 p.m. Sept. 7, 2008
Not that long ago the Bush administrationw was singing, "Everthing is
beautiful..."
and now this. I pray that my children will not live under any more republicans. what a bunch of idiots and corrupt officials.
and now this. I pray that my children will not live under any more republicans. what a bunch of idiots and corrupt officials.
Sith | 4:16 p.m. Sept. 7, 2008
there goes the promise of less government, down the toilet and they keep saying
that the economy is not bad?
Brother Chuck Schroeder | 6:10 p.m. Sept. 7, 2008
This could toss us into another Great Depression and a run on the banks folks.
ARE YOU ALL HAPPY NOW?. When you borrow learn to pay off your own loan's,
not stiff the tax payer's with em. All because of your greed of home equity
loans, that came due after 5 years, all you paid on them was the interest only,
before the bubble bursted, when it went up in value's, you played your
cards wrong, because in higher education they don't teach you "common
sense 101" and your to stupid to figure it out on your own. So here's
your liberalism 101 class here - HERE WE GO AGAIN FOLKS, when they say the
government, they mean the do nothing liberal Congress looking for a quick
"tax the middle class and spend" families for the next 200 years to
pay for their "I had a dream" crap, as they boast "the
government's planned takeover of Fannie Mae and Freddie Mac, expected to be
announced as early as today." How about break it all apart, regulate the
smaller parts, and do away with liberal de-regulation?. Or is that to Republican
for their socialist utopian world?. I think so.
Brother Chuck Schroeder | 7:40 p.m. Sept. 7, 2008
This is just another example of people simply not accepting responsibility for
their own actions.
Do we make the liquor stores responsible for problem drinking? The fast food shops responsible for obesity? Society liable for nervous breakdowns?
Can we sue the sun for causing skin cancer?
I'm certainly not taking the side of the gaming industry, but just because they exist is no reason for someone to blame them for their losses. If you go into a casino and stay there long enough you're going to lose.
I know they show you the pictures of the people who won a million dollars on one pull of a slot machine handle, but where do you think that million dollars came from.
Out of the pockets of other suckers, that's where it came from. I hear the term "compulsive gambler" and I have no doubt that these people exist, but I don't believe that everybody who loses money on a blackjack table is a compulsive gambler.
If someone is a compulsive gambler they are going to lose their money. Like with the the government's planned takeover of Fannie Mae and Freddie Mac.
Do we make the liquor stores responsible for problem drinking? The fast food shops responsible for obesity? Society liable for nervous breakdowns?
Can we sue the sun for causing skin cancer?
I'm certainly not taking the side of the gaming industry, but just because they exist is no reason for someone to blame them for their losses. If you go into a casino and stay there long enough you're going to lose.
I know they show you the pictures of the people who won a million dollars on one pull of a slot machine handle, but where do you think that million dollars came from.
Out of the pockets of other suckers, that's where it came from. I hear the term "compulsive gambler" and I have no doubt that these people exist, but I don't believe that everybody who loses money on a blackjack table is a compulsive gambler.
If someone is a compulsive gambler they are going to lose their money. Like with the the government's planned takeover of Fannie Mae and Freddie Mac.
David O | 7:53 p.m. Sept. 7, 2008
The conservative leadership of this country has allowed unregulated Capitalism
to turn into Socialism they claim to be against. Heck of a job.
Anonymous | 9:46 p.m. Sept. 7, 2008
This can be laid at the feet of us. Americans. We wanted the nanny state and we
got it in spades. Now we will live with the consequences that no party can save
us from. Get ready for hyper inflation.
Phil | 9:52 p.m. Sept. 7, 2008
How come nobody has brought up that these two companies were bailed out a few
years ago, by CONGRESS? That is why they aren't working right. Who has to
run a business right when you think and have been bailed out every time.
CONGRESS is most at fault for bailing them out in the first place, which helped
from this housing mania.
Anonymous | 10:08 p.m. Sept. 7, 2008
Brother Chuck Schroeder | 6:10 This is Bush's solution. He's your man!
Chris Corwin | 10:18 p.m. Sept. 7, 2008
CONgress has a 9% approval rating among likely voters yet most of you will
re-elect the crook that "represents" you in the District of Criminals.
Pathetic! All of you who vote party lines are to blame for the robbery of our
tax dollars that has taken place in the past year. VOTE 3rd party and truly
change America.
Professor | 10:18 p.m. Sept. 7, 2008
Dear "Shame On Us" Fannie Mae was created by FDR. It was regulated
by the Federal Government, who seem to be fouling up too many things these days.
To think socialism will save us is certainly vanity, since it was FDR's
flirt with socialism that got us into this mess.
This bailout will eventually catch up with us and as Brother Chuck points out it could toss us into another Great Depression. I'd certainly not want to be our president for the next 8 years. No matter what party.
This bailout will eventually catch up with us and as Brother Chuck points out it could toss us into another Great Depression. I'd certainly not want to be our president for the next 8 years. No matter what party.
Anonymous | 10:29 p.m. Sept. 7, 2008
It's time to let the greedy 'capitalist,' 'free-market
mongering,' 'privatization' based corporations simply collapse...
and let the competitive spirit of the 'free market' start all over
again... yea right!
Those who support neo-con Republican right wing-nuts Corporate socialists just don't get it. By voting for Republicans one is simply voting for the further destruction of our economic well-being in the name of lower taxes (which we pay back by bailing out Republican-led corporate greed caused by 'privatization'), reducing social services costs (which we pay for with increased food recalls, sky rocketing medical costs, etc.), and the list goes on.
When are the common working middle-class Americans of Utah going to quit letting themselves be duped into thinking that voting for Republicans (especially right wing-nuts) is in their best interests, when it is patently not?
Those who support neo-con Republican right wing-nuts Corporate socialists just don't get it. By voting for Republicans one is simply voting for the further destruction of our economic well-being in the name of lower taxes (which we pay back by bailing out Republican-led corporate greed caused by 'privatization'), reducing social services costs (which we pay for with increased food recalls, sky rocketing medical costs, etc.), and the list goes on.
When are the common working middle-class Americans of Utah going to quit letting themselves be duped into thinking that voting for Republicans (especially right wing-nuts) is in their best interests, when it is patently not?
Garrett | 11:56 p.m. Sept. 7, 2008
I am amazed at all the goverment blame going on. The government did not make
people pay more for their houses than they are worth today. The problem lies in
the fact that large numbers of home buyers are not making the payments they
agreed to make. Lots of investors, including retirees have billions of dollars
invested in what were thought to be safe investments. You may disagree with the
tactics, but FHLMC and FNMA were bankrupt.
If the investors were to lose out and homeowners were evicted, the drag on the economy would be huge. There is no simple solution. Non-paying homeowners are the source of the problem, aided by underwriting that did not anticipate a nationwide downturn in real estate.
If the investors were to lose out and homeowners were evicted, the drag on the economy would be huge. There is no simple solution. Non-paying homeowners are the source of the problem, aided by underwriting that did not anticipate a nationwide downturn in real estate.
wrz | 12:45 a.m. Sept. 8, 2008
Fannie Mae and Freddie Mac were created by the federal government years ago then
turned them over to the private sector. Shows how well the greedy private
sector conducts business.
Anonymous | 1:15 a.m. Sept. 8, 2008
I need a federal bail out too! If the government doesn't take over my
mortgage, it could seriously impact my ability to by a future home, a car and
other credit purchases.
guess what? | 2:55 a.m. Sept. 8, 2008
your tax dollars aren't funding this takeover- they're going to sell
more debt to the Chinese and Russians and Koreans and rich oil producing nations
(Saudi, Dubai, UAE) and guess what happens when they stop buying American debt?
Interest rates are going through the roof.
Blaming Republicans or Bush is so mindless. I blame Congress as a whole (Dems and repubs) for allowing Fannie and Freddie to buy so many mortgages that weren't viable. Who jammed the idea down the people's throat that everyone needed to own a home?
I agree with 9:40 am - if you think this is a capitalist society then you're living in a dream world - the Government is subsidizing banks, pharmaceutical companies, farmers, soon to be auto manufacturers
Blaming Republicans or Bush is so mindless. I blame Congress as a whole (Dems and repubs) for allowing Fannie and Freddie to buy so many mortgages that weren't viable. Who jammed the idea down the people's throat that everyone needed to own a home?
I agree with 9:40 am - if you think this is a capitalist society then you're living in a dream world - the Government is subsidizing banks, pharmaceutical companies, farmers, soon to be auto manufacturers
@wrz | 3:39 a.m. Sept. 8, 2008
whoa nellie - Fannie Mae and Freddie aren't in the private sector - they
are quasi-government organizations- half private half public - there's the
private half where the executives and board of directors get rich while running
the company into the ground and the public half where the Government assumes all
losses associated it with poor management - beautiful country ! also the private
half where ordinary shareholders get hosed - what a ponzi scheme the stock
market is
awesomeron | 5:21 a.m. Sept. 8, 2008
This is getting more and more interesting.
Anonymous | 5:38 a.m. Sept. 8, 2008
Nancy Petroski and Harry Greed are still running things in Congress I see..
-convicted any ball players lately?
Sorry- did I say running?
I meant stumbling and playing their fiddles while the economy burns.. Please don't let us dig off shore oil!
We have a Democrat Congress and some of you people want a Democrat President?
Saturday nite live could use that joke.
Sorry- did I say running?
I meant stumbling and playing their fiddles while the economy burns.. Please don't let us dig off shore oil!
We have a Democrat Congress and some of you people want a Democrat President?
Saturday nite live could use that joke.
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