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Corporate Socialism

Discussion in 'Political Discussion' started by Holy Diver, Jul 22, 2008.

  1. Holy Diver

    Holy Diver Rookie

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    #80 Jersey

    With the buyouts of Fannie Mae and Freddie Mac, along with the Bear Sterns BS....It got me to thinking...

    25 Billion.....that a lot of dough to give to a failing company. Does the United Sattes governement now own a piece of thses institutions? Do they now work for you and I?

    or

    do we just keep saying its okay to fail as a comany, if you are big enough...the taxpayers will bail you out.

    I just don't get this whole thing.....
  2. MrBigglesWorth

    MrBigglesWorth Rookie

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    I hear ya. It has some aspects of fascism too.

    who gave the failing company the money? the fed or the US? and what is the differentiation in the end? does the FED not own the US Govt? If only more people knew the facts.
  3. FreeTedWilliams

    FreeTedWilliams pfadmins PatsFans.com Supporter

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    #75 Jersey

    You do realize that Fannie Mae is the public version of the old Federal Ginnie mae Program made up to insure that lower income people have access to home loans.

    http://www.fanniemae.com/aboutfm/index.jhtml?p=About Fannie Mae

    Fannie Mae provides stability, liquidity, and affordability to the nation's housing finance system under all economic conditions. We are a shareholder-owned company with a public mission. We exist to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market.

    Fannie Mae has a federal charter and operates in America's secondary mortgage market to ensure that mortgage bankers and other lenders have enough funds to lend to home buyers at low rates. Our job is to help those who house America.

    Fannie Mae was created in 1938, under President Franklin D. Roosevelt, at a time when millions of families could not become homeowners, or risked losing their homes, for lack of a consistent supply of mortgage funds across America.

    The government established Fannie Mae in order to expand the flow of mortgage funds in all communities, at all times, under all economic conditions, and to help lower the costs to buy a home.

    In 1968, Fannie Mae was re-chartered by Congress as a shareholder-owned company, funded solely with private capital raised from investors on Wall Street and around the world.
  4. MrBigglesWorth

    MrBigglesWorth Rookie

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    good info....but even though it was govt established it is a public share owner based company now. so what are you saying?

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