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tmorrison
Forums Member
Joined: 23 Jul 2008
Posts: 134
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#1 · Posted: 11 Sep 2008 01:29 · Edited by: tmorrison
How do you feel about the ULTIMATE LEGAL PONZI
FREDDIE MAC & FANNY MAE?
The Ultimate once thought of unbreakable schemes of
Freddie Mac & Fanny Mae has now become under FIRE...
Responsible for THE worst "housing market" crash in the history
of United States...
Sad & Embarrassing: Government Bail-out is the only option
these days...
Welcome to the art of Socialism folks...Government Controls
everything...
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Thom01
Forums Member
Joined: 9 Sep 2008
Posts: 7
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#2 · Posted: 11 Sep 2008 02:35 · Edited by: Thom01
Giblinker: Welcome to the art of Socialism folks...Government Controls everything...
Actually, national governments are only puppets in this game, worldwide. Although I acknowledge your perception regarding this specific circumstance. Yes. The controllers are consolidating their power in the national government.
Giblinker: Freddie Mac & Fanny Mae has now become under FIRE... Responsible for THE worst "housing market" crash in the history of United States...
That there was rampant and widespread fraud played out in the housing mortgage industry is a matter of fact. That none of the players in this fraud (the banking institutions and mortgage companies) stopped to call it a fraud (did anything to decline what were obviously doctored mortgage applications for people who had no means to make the payments once the balloon payments became due), but went with the flow in order to "make" money is also a fact. To blame all this on Freddie Mac and Fanny Mae is a bit premature.
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tmorrison
Forums Member
Joined: 23 Jul 2008
Posts: 134
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#3 · Posted: 11 Sep 2008 19:37
FROM FROM A REALISTIC PERSPECTIVE....
Unfortunately we just witnessed history with the Ultimate Legalized Scam in the United States...
FREDDY MAC & FANNY MAE...FINALLY SUBMITS TO THE GOVERNMENT displaying all its shoddy lending schemes that cause the US housing market to finally collapse...
HERE IS a NEW TERM for you: US GOVERNMENT LEGALIZED SCAM...Why?...They still want to bail these CEO's out who cause this mess and allow each of them to walk freely away with
20,000 million each while the nation suffers...
HOW about a new category in this forum... GOVERNMENT LEGALIZED SCAMS!
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getagrip
Joined: 20 Feb 2006
Posts: 2087
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#4 · Posted: 11 Sep 2008 22:28 · Edited by: getagrip
I don't see this as a scam at all. Perhaps there is some fraud within the mortgage industry, but I think the reason these companies needed to be bailed out is because of all of the foreclosures. Ultimately, when you lend out money, and people can't pay you back, there are going to be problems, which is exactly what happened with these companies. I wouldn't call that a scam...
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tmorrison
Forums Member
Joined: 23 Jul 2008
Posts: 134
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#5 · Posted: 11 Sep 2008 22:38 · Edited by: tmorrison
getagrip: Ultimately, when you lend out money, and people can't pay you back, therei are going to be problems, which is exactly what happened with these companies. I wouldn't call that a scam...
I think you missed the point...
The lending scheme was revealed that they were lending loans/monies to individuals who from the intial application couldn't qaulify themselves..
They were fully aware of the schemes being used to qualify individuals who didnt' clearly have the means to even qualify in first place...
Falsfied incomes, employment status..etc...etc....
Therefore they scammed the system til it dried out...
Explain why the CEO's of Freddy & Fanny are requesting from the Government bail-out $20,000,000 each after they knowingly caused this housing mess?
The Government would be a fool and a crying shame for doing this while people are out on the streets?
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