Freddie Mac needs another $10.6 billion

[Bindare_Dundat]

NEW YORK (CNNMoney.com) -- Freddie Mac on Wednesday requested another $10.6 billion handout from the federal government.

The housing finance company, which reported an $8 billion quarterly loss, was put into conservatorship by the government during the height of the financial panic in September 2008 along with its twin Fannie Mae (FNM, Fortune 500).

Freddie has already received $50.7 billion from the Treasury Department. Fannie Mae has so far gotten $76.2 billion.

[24KT]

NEW YORK (CNNMoney.com) -- Freddie Mac on Wednesday requested another $10.6 billion handout from the federal government.

The housing finance company, which reported an $8 billion quarterly loss, was put into conservatorship by the government during the height of the financial panic in September 2008 along with its twin Fannie Mae (FNM, Fortune 500).

Freddie has already received $50.7 billion from the Treasury Department. Fannie Mae has so far gotten $76.2 billion.

Hmmm... I don't think people will like this very much. ...there's gonna be rumblings.

[GigantorX]

According to some a bunch of Congressmen several years back, everything is fine and there are no problems.

[Soul Crusher]

How crazy is it that 10 billion does not even seem like much? 

[Hugo Chavez]

can we watch them burned at the stake instead?  Please?  I mean that's a viable option right?

[Dos Equis]

 

[240 is Back]

cue some haters to say it's wrong to give them money...

but if we do, it's even more wrong to insist on any contorl of how they spend it.



I was seeing that in 2007, Lehman gave 3 bil in dividends to investors... and 50 billion in bonuses - all while showing a nice profit on paper... all while sinking behind the scenes of course.   

Fifty billion in bonuses... I dont get why peoeple don't support some sort of govt controls or checks as to how they'll spend the bailout $ we give them.

[Soul Crusher]

What the heck is wrong w you?

[240 is Back]

1) I like to argue anything.

2) Anytime a company needs, says, 10 billion dollar of taxpayer money, then the taxpayer should have a sesay in how it is spent.  I'd feel really shitty if the day after we wrote this check, they gave 10 bill in bonuses, you know?

[GigantorX]

1) I like to argue anything.

2) Anytime a company needs, says, 10 billion dollar of taxpayer money, then the taxpayer should have a sesay in how it is spent.  I'd feel really shitty if the day after we wrote this check, they gave 10 bill in bonuses, you know?

Liar.

Anyways, these fucking Zombie-Frankensteins shouldn't even exist as such. GSE's were and still are a horrible idea as demonstrated by the need for almost 100 billion dollars or almost 1/8 of the money "spent" on TARP!


WTF.

[MRDUMPLING]

1) I like to argue anything.

2) Anytime a company needs, says, 10 billion dollar of taxpayer money, then the taxpayer should have a sesay in how it is spent.  I'd feel really shitty if the day after we wrote this check, they gave 10 bill in bonuses, you know?

How about we say no to the money?  It is our money correct?  I say fuck off.

[240 is Back]

saying NO to the money is even better.  But let's be honest - no president is going to let an automaker or major bank system fail on their watch.   Bush bailed them out, mccain and palin would have (they supported the bailout) and Obama did.  They're all the same in this way.  More of a president thing, than a repub/dem thing.

So in light of the reality that the prez is gonna give away our $, I'd say we should at least control it.

[Soul Crusher]

Fannie and Freddy is a perfect example of govt run amok and the silence of Obama and the other leftists in its role in the real estate meltdown is very telling. 

[240 is Back]

yes, but it was also a nation of idiots with no business owning a house, who bought one anyway out of greed.  "I'll flip this in a year and make 100 grand, yeah!"

And really, bush and the repubs owned congress from 2000 til 2006... You don't think they might have had a LITTLE bit of responsibility along with the dems?  LOL... sure, barney frank can cry about stuff, but if Bush has the balls to wage unpopular wars, condone torture, and tell terrorists to "bring it on!", you have to wonder why he didn't have the guts to tell americans to spend responsibly.

They're all guilty of it, bro.  They're all bums.  Bush as much as Obama.  It's easy to blame "Obama and the leftists" but let's face it, there isn't much difference between a RINO like mccain, romney or palin, and a wartime lib like Obama.

[MRDUMPLING]

saying NO to the money is even better.  But let's be honest - no president is going to let an automaker or major bank system fail on their watch.   Bush bailed them out, mccain and palin would have (they supported the bailout) and Obama did.  They're all the same in this way.  More of a president thing, than a repub/dem thing.

So in light of the reality that the prez is gonna give away our $, I'd say we should at least control it.

Not letting them fail and bailing them out...no sir, this is about an opportunity to take over private industry, I think that is out in the open now.  It is no longer a conspiracy in my opinion.  

Before some of you jump down my throat, I believe our presidents have been working towards this for a long time now, it isn't just Obama.  

[240 is Back]

I think youre right Mr Dumpling.

When these bankers are willing to hold america hostage (If you don't help us, everyone loses their 401k!).... and write themselves huge bonuses while letting these companies fail...

What else can the prez do?  This is the same for obama and Bush.  They were kinda held hostage.  If you don't bail out these firms, you have riots as people lose their life savings and china and russia swoop in and take over our assets worldwide - suddenly we're living 3rd world style.

At the same time - if you do bail out these firms without govt control - these greedy CEOs will just write themselves giant checks, then demand more. 

I like Obama's new bill to stop 'too big to fail'.  I heard it broken down yesterday... anything that limits how much these CEOs can hold our 401k's hostage.  I don't konw what the solution is - you CANNOT just let them fail.   Too many grannies would lose their life savings.

[BM OUT]

But I guess its just fine that union bosses get to vote themselves raises and bonuses all while stealing,most times against their will,union members money and giving it to the likes of Barack Hussein Obama,thats just fine.Its also fine that congress votes themselves raises EVERY year,no problem with that.

The tarp program was needed,the stimulus was a waste of a trillion dollars,the takeover of gm is a waste of money.Bush tried to do something about Fanny and Freddy and was thwarted by filthy libs like Dodd and Barney Frank and race baiting Maxine Waters.Obama ONLY likes bailing out unions.

[240 is Back]

"The tarp program was needed,"

Does everyone agree with this?

[Soul Crusher]

No. 

[BayGBM]

How crazy is it that 10 billion does not even seem like much? 

I was thinking the same thing.  $10 billion? Is that all? Sure, no problem. 

[BM OUT]

"The tarp program was needed,"

Does everyone agree with this?

Even guys like Stewart Varney agree with this.
Let me ask you this,what was a better investment,the TARP which banks are paying back or the stimulus which has done NOTHING!!

By the way,Obama was a MAJOR player in TARP as he was leading the presidential race then and was at the table in negotians.To act like this was Bush is stupid and a typical lib talking point.