palin...ike....its seems like the real story is Fannie and Freddie

[dogindia]

Massive losses. The news media may not be able to get their little heads around it. Wonder what wall street going to do.

Government takeover of the largest etc.

This was coming but it is still shocking.

[dkf]

1. The GSEs have more debt than the Treasury.

[jwirr]

2. Finally we are down to an issue - we still need to keep our eyes on Ike. nt

[LSparkle]

3. Another taxpayer bailout on the horizon ...

Why on earth did they take Freddie and Fannie from being
government-run organizations to making them private enterprises?
Oh, wait ... This is BushWorld, where the goal is to privatize
profits and then socialize losses.

Silly me!

[Speck Tater]

4. Western civilization is falling apart at the seams, yet the circus goes on uninterupted.

It's all part of America's favorite pastime: living in denial.

[LiberalEsto]

5. My DH worked at Fannie for 17 years

He took an early buyout last year and got another job.

We just found out that his 401K is worth only 1/3 as much as it used to be, because most of it is in worthless Fannie stock.

It wasn't much to begin with, but ouch.

[OwnedByFerrets]

6. For those of us in its path, yes, Ike is a real story...nt

[Robbien]

7. You are also in the path of Fannie and Freddie

Everyone who has a checking account is in the path of Fannie and Freddie
Everyone who has a savings account is in the path of Fannie and Freddie
Everyone who has an investment account is in the path of Fannie and Freddie
Everyone who draws a pension or who has a 401K is in the path of Fannie and Freddie
Everyone who lives in a building whether it is your home or a rental is in the path of Fannie and Freddie

This bailout effects every single flow of dollars in the US

[stillcool]

8. Now see...I don't understand that at all..

I am finance illiterate. I remember reading that if there were a re-distribution of wealth, the money would end up in the same hands because of people's ignorance of growing wealth or how to invest. That would probably describe me, but I will never know.

[Robbien]

9. Every single banking/investment system holds Fannie/Freddie

Your bank holds it. Your pension holds it. Your 401K holds it. The list goes on and on and on. It would be easier to list the organizations who don't hold Fannie/Freddie, if you can find them.

Fannie and Freddie have somewhere around two trillion dollars of debt instruments rolling over out there. You and I have just been put on the hook to repay that debt.

[krabigirl]

10. It's extremely scary.

[crazylikafox]

11. Time to talk about Phil Graham again as McClueless's Secretary of Treasury

Doesn't he have links to this whole banking disaster?