As it relates to our economy, is the bail-out by the Bush administration of Fannie & Freddie a good thing?

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As it relates to our economy, is the bail-out by the Bush administration of Fannie & Freddie a good thing?

Democratic presidential nominee Barack Obama issued a statement agreeing that some form of intervention was necessary, and promised, "I will be reviewing the details of the Treasury plan and monitoring its impact to determine whether it achieves the key benchmarks I believe are necessary to address this crisis."

On Saturday, Republican vice presidential nominee Sarah Palin said Fannie and Freddie "have gotten too big and too expensive to the taxpayers. The McCain-Palin administration will make them smaller and smarter and more effective for homeowners who need help."

http://news.yahoo.com/s/ap/20080907/ap_on_bi_ge/mortgage_giants_crisis

Rebel Rock

It will probably help as a temporary solution in the short term, but we need a longer term solution. Smaller would definitely be better. They were designed to help 1st time buyers, but like other companies have lost track of the original ideas due to greed for more.

robert p

Smaller is better:
yes

debijs

~~They are so important to the stability of what is left of our economy I don't see there is any other choices but to step in and salvage what they can. What I would love to see is the people responsible (the white collar crime) be behind bars for what they have done to the taxpayers of this country. I am so sick of CEO's and so forth still staying solvent themselves without any repercussions from their deceit. Why do these not become a federal crime when they have cheated the taxpayers and jeopardized the well being of our entire country?~~

pte:D42

freddy was a frankenstien morgage overseer created to allow more mortgages to be churned out for private and rentable properties. the idea of allowing mortgages for struggling first time buyers who were'nt so maney years ago so they created another monster fanny may to get more bad depters on the property ladder. but they both had hidden glass in the brain and eventualy went crazy & belly up as they where developed by the government and floated on the market to get share holders to invest and in turn re-invest the funds. now we have a world wide slump and the original buyers are not paying their mortgage and a he ll of a lot of other mortgages are not getting payed each month so the share holders dividends go down and they want to dump their shares. no bodey wants them so the government compulsery buys them out and take over for a margin of the price leaving the share holders out of pocket and the government rakes it in so yes it was a good idea for bushes boyz but not for share holders or morgage borowers as they have to still pay up or get out and the goverment find a new borower for thr property. and the ordinary tax payer gets to pay the trillions of dollers back for the next 20 years at 30% interest or 60 years at 10%. thats just for the curent 12 trillion which will itself have to be shored up in less than the first financial year if it doesnt have the desired effect but if nobody has a job then yuo go into meltdown and martial law. why not give mortgage lenders some slack instead untill the contry gets back to normal or let the companies rot like maney others have been alowed to in the passed because the government had no interest in them>?

canam

When ever government runs something it is sure to be a disaster. That being said, Fannie and Freddie hold many mortgages and if nothing is done, it will cause problems for half the people in this country with a mortgage. Obama could care less, he is just trying to get votes and look like he knows what hes doing.

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