Obama: Fannie and Freddie “too central to the housing market” to fail, supports bailout

Fannie Mae and Freddie Mac shares were on the rise in stubborn opposition to a down market on news of they have completed a multi-billion dollar debt-sale, and the news coincided with presidential hopeful and democratic nominee apparent Barack Obama’s statement today where he reiterated his support for the trouble GSE’s and the as-good-done GSE Bailout which will be funded on the backs of the nation‘s taxpayers:

“Here’s the problem: If Fannie Mae and Freddie Mac collapsed, then probably the financial system would receive such a body blow that it could be disastrous.  You probably couldn’t get a mortgage,”  he said.
 

“I think long-term what we have to do is, we have to go ahead and make a decision, if these are public entities, then maybe they ought to get out of the profit-making business… and if they’re private entities, that we don’t bail them out,”  Obama said.

“We’re going to have to structure that carefully how we make that transition in order that we don’t get the housing market even more spooked than it already is,” he continued.

   

Regardless of what the Treasury says about the likelihood of a bailout for the beleaguered GSE’s, you can bet the decision has already been made, but there are a great deal more issues in play than the players want to discuss, and there will be more casualties than any of them will ever admit.

 

It’s the grand soft-peddle – don’t get fooled!

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One Response to Obama: Fannie and Freddie “too central to the housing market” to fail, supports bailout

  1. megaaslavik says:

    В частности, были освещены вопросы изъятии земельных участков и иных объектов недвижимости для ?государственных нужд
    Появился сайт школы российского частного права.
    Приглашаем всех заинтересованных в образовании, новостях в сфере права, а так же тех, кто заинтересован в повышении своей квалификации!
    Дискуссии, события, помощь и многое другое!
    1999 3h
    2001 4k

    Translated as:

    “In particular, have been taken up questions withdrawal of the ground areas and other objects of the real estate for? The state needs. There was a site of school of the Russian private law.
    We invite all interested in formation, news in sphere of the right, and as those who is interested in increase of the qualification! Discussions, events, the help and many other things!”

    The site is cool: http://privlaw.ru/

    18-9-2008

    “At the Russian school of private law have passed introductory tests. Selection of students for new academic year has been made. The photoreport look here.”

    9-9-2008

    “To attention of graduates and listeners of the Russian school of private law! On October, 1st in 11 o’clock in the morning in a boardroom of Presidium of the Maximum Arbitration court of the Russian Federation, devoted to opening of new academic year the solemn assembly takes place in the Russian school of private law. In the program of assembly – delivery студенчески”

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