NOT AGAIN?

goingbroke

Fannie Mae asks for $2.5 billion in new US aid
Text Makes ya glad you have lots of silver and gold doesent it?

edmundfitzgerald

Does someone know why 685 billion is taken from taxpayers to rescue Fannie and Freddie but not from the FED ?

Doesn't the FED use QE one and two to stimulate bank lending ? If so, then why can't the FED print money out
of thin air to rescue these failed companies too ?

DrBuster

Wasnt the last round of QE buying a big chunk of fannie/freddie assets? Why do we keep feeding that failure?

roadrunner

Does someone know why 685 billion is taken from taxpayers to rescue Fannie and Freddie but not from the FED ?

As the FED transfers illiquid and potentially worthless assets from its balance sheet into F&F under the cloak of marked to model acctg and zero due diligence by govt regulators, then taxpayers will in essence be subsidizing/monetizing the FED's failures. By the time it's all over it could be hundreds of BILLIONs in losses...unless hyperinflation or many years of inflation eventually brings them back to par.

roadrunner

jmski52

Does someone know why 685 billion is taken from taxpayers to rescue Fannie and Freddie but not from the FED ?

Because the Fed is a private banking cartel and they have no intention of accepting worthless paper in exchange for the money that they create from thin air?

Because the Fed can only create money from thin air and the taxpayers actually work to create real value, so sticking taxpayers with the liabilities is the only way to ever pay it off?

Because Glass-Steagall was repealed after successfully keeping investment banking and mortgage lending from being corrupted by securitization for over 60 years before a republican congress & a democratic president decided to trash it?

Because the Treasury functions as the trading arm of Goldman Sachs while the Fed functions as the investment banking arm?

Because the Treasury will socialize debt so that the private banking cartel can privatize the profits and pay their principals obscenely large bonuses?

Because congress is so corrupt that there is no way to stop it from happening?

Other than that, I haven't a clue.

DoubleEagle59

<< <i>Does someone know why 685 billion is taken from taxpayers to rescue Fannie and Freddie but not from the FED ?

Because the Fed is a private banking cartel and they have no intention of accepting worthless paper in exchange for the money that they create from thin air?

Because the Fed can only create money from thin air and the taxpayers actually work to create real value, so sticking taxpayers with the liabilities is the only way to ever pay it off?

Because Glass-Steagall was repealed after successfully keeping investment banking and mortgage lending from being corrupted by securitization for over 60 years before a republican congress & a democratic president decided to trash it?

Because the Treasury functions as the trading arm of Goldman Sachs while the Fed functions as the investment banking arm?

Because the Treasury will socialize debt so that the private banking cartel can privatize the profits and pay their principals obscenely large bonuses?

Because congress is so corrupt that there is no way to stop it from happening?

Other than that, I haven't a clue. >>



Wow!...That's what I call an answer!!

Mesquite

That does about cover it jmski52. Good job!

InYHWHWeTrust

<< <i>Does someone know why 685 billion is taken from taxpayers to rescue Fannie and Freddie but not from the FED ?

Because the Fed is a private banking cartel and they have no intention of accepting worthless paper in exchange for the money that they create from thin air?

Because the Fed can only create money from thin air and the taxpayers actually work to create real value, so sticking taxpayers with the liabilities is the only way to ever pay it off?

Because Glass-Steagall was repealed after successfully keeping investment banking and mortgage lending from being corrupted by securitization for over 60 years before a republican congress & a democratic president decided to trash it?

Because the Treasury functions as the trading arm of Goldman Sachs while the Fed functions as the investment banking arm?

Because the Treasury will socialize debt so that the private banking cartel can privatize the profits and pay their principals obscenely large bonuses?

Because congress is so corrupt that there is no way to stop it from happening?

Other than that, I haven't a clue. >>



I'll third that motion. Great post, jmski! I love the Hebraic rhetoric of answering questions with questions, very poignant and nice touch!

dino2008

Barak Obama , Nancy Pelosi, Barney Frank,Little tax cheat Timmy and Bernake are all on my Christmas card list.....have to thank them for making my pm's rise

JoesMaName

What's the point of making this political? both parties are guilty of lining their pockets while Rome burns.

DoubleEagle59

<< <i>What's the point of making this political? both parties are guilty of lining their pockets while Rome burns. >>



I agree.

KUCH

<< <i>What's the point of making this political? both parties are guilty of lining their pockets while Rome burns. >>



This is NOT political! It's stating the facts about who controls each financial "arm"

You want political, I'll give you political............... There are 3 branches of government that govern. Each branch has certain powers, to prevent corruption and provide for limited government.

Konahead

<< <i>What's the point of making this political? both parties are guilty of lining their pockets while Rome burns.

Bear

Rome is burning? Why am I always the last to know.

Why didn't someone notify me earlier. I coulda stored

more pine nuts for winter.

jmski52

Pine nuts? Have you ever tried pine nuts? Ack!

goingbroke

And here's where the story goes from dumb to dumberer: Freddie -- which of course has received billions in bailout funds from the U.S. Treasury -- is now suing another branch of the Treasury to skip on the bill. As Jonathan Weil says in a recent column in Bloomberg: "Talk about biting the hand that feeds you."

Or biting the hand that bailed you out.

Or biting the hand of your only friend in the entire world.

gsa1fan

It's beginning to sound like a big shell game. Bail out, loan, tarp, & QE1 & 2.

Move the $$ around enough it just gets lost in the shuffle