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Freddie and Fannie nationalised!
amcluesent
Posts: 9,425 Forumite
US takes over key mortgage firms
US financial officials have outlined plans for the government to take over the failing mortgage giants Freddie Mac and Fannie Mae.
Figures show about 9% of US homeowners were behind on their payments or faced repossession.
The federal takeover is one of the largest bail-outs in US history. Together, Freddie Mac and Fannie Mae own or guarantee about $5.3 trillion (£3 trillion) of mortgages.
Who is next to go down in Britain?
US financial officials have outlined plans for the government to take over the failing mortgage giants Freddie Mac and Fannie Mae.
Figures show about 9% of US homeowners were behind on their payments or faced repossession.
The federal takeover is one of the largest bail-outs in US history. Together, Freddie Mac and Fannie Mae own or guarantee about $5.3 trillion (£3 trillion) of mortgages.
Who is next to go down in Britain?
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Comments
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Bradford & Bingly is still the favourite however Alliance & Leiecester and Barclays are trying to fight for prime position.
Bradford & Bingly will be dead by Christmas:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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amcluesent wrote: »US takes over key mortgage firms
US financial officials have outlined plans for the government to take over the failing mortgage giants Freddie Mac and Fannie Mae.
Figures show about 9% of US homeowners were behind on their payments or faced repossession.
The federal takeover is one of the largest bail-outs in US history. Together, Freddie Mac and Fannie Mae own or guarantee about $5.3 trillion (£3 trillion) of mortgages.
Who is next to go down in Britain?
They always 'kind of' guaranteed FMAC so the US government has really moved from an implicit guarantee to an explicit one.
This could actually provide a boost to the market and the dollar in the short term as people feel more secure about those institutions. I wouldn't bet on it though ... who knows, the pound may be about to make a comeback
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Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
As I said in another thread, this could give Broon the idea that is 40billion plan is the right thing to do:rolleyes:, go on Broon, Blair followed George Dubya in Iraq, why not follow him into a mortgage bail out, look out for the first £10 loaf of bread in a shop near you soon:mad:0
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As I said in another thread, this could give Broon the idea that is 40billion plan is the right thing to do:rolleyes:, go on Broon, Blair followed George Dubya in Iraq, why not follow him into a mortgage bail out, look out for the first £10 loaf of bread in a shop near you soon:mad:
On the other hand - if you took on loads of unsustainable debt you should be laughing .... IF wages hyperinflate too of course.
If not, you are shafted without pay rises because we are heading for full on monetary inflation with money being magicked up left, right and centre to bail out the banks.--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
> IF wages hyperinflate too of course.<
IMHO we'll see waves of strikes across the public sector again, returning to the 1970s with Labour introducing pay restraints and having the unions around to #10 for beer and sandwiches.
Broken up I only half filled my boots with index linked bonds when the rates were good.
Still time to remortgage with a net negative interest rate as inflation spirals. All good.0 -
On the other hand - if you took on loads of unsustainable debt you should be laughing .... IF wages hyperinflate too of course.
If not, you are shafted without pay rises because we are heading for full on monetary inflation with money being magicked up left, right and centre to bail out the banks.
Unfortunately I wont be laughing, as I have no debt. I am....wait for it Broon... PRUDENT, do you remember that word..... no ??? , thought not. What it means you thick socialist p***k is I live within my means, I buy what I can afford, I save if I cant afford it and buy it then. It means saving for a rainy day, putting something aside when times are good so that I'm ok when things are bad.
Its a word that Broon has used often but obviously has no idea !!!!!! it means, his whole chancellor/premiership he has given money to scrubbers, fekless no hopers etc.. who have given nothing back to society, only taken from it.......time is up for you Brown but before you go you can kick the decent people of this country in the guts one more time by bailing out all the Mewers, what a complete and utter tw*t0 -
amcluesent wrote: »> IF wages hyperinflate too of course.<
IMHO we'll see waves of strikes across the public sector again, returning to the 1970s with Labour introducing pay restraints and having the unions around to #10 for beer and sandwiches.
I would always be happy to have the same pay rise as MPs vote themselves. :rolleyes: I dare say that will be below inflation. Pigs prepared for take off...0 -
Unfortunately I wont be laughing, as I have no debt. I am....wait for it Broon... PRUDENT, do you remember that word..... no ??? , thought not. What it means you thick socialist p***k is I live within my means, I buy what I can afford, I save if I cant afford it and buy it then. It means saving for a rainy day, putting something aside when times are good so that I'm ok when things are bad.
Its a word that Broon has used often but obviously has no idea !!!!!! it means, his whole chancellor/premiership he has given money to scrubbers, fekless no hopers etc.. who have given nothing back to society, only taken from it.......time is up for you Brown but before you go you can kick the decent people of this country in the guts one more time by bailing out all the Mewers, what a complete and utter tw*t
Well said Sir! I particularly liked "What it means you thick socialist p***k " :rotfl:0 -
Unfortunately I wont be laughing, as I have no debt. I am....wait for it Broon... PRUDENT, do you remember that word..... no ??? , thought not. What it means you thick socialist p***k is I live within my means, I buy what I can afford, I save if I cant afford it and buy it then. It means saving for a rainy day, putting something aside when times are good so that I'm ok when things are bad.
Its a word that Broon has used often but obviously has no idea !!!!!! it means, his whole chancellor/premiership he has given money to scrubbers, fekless no hopers etc.. who have given nothing back to society, only taken from it.......time is up for you Brown but before you go you can kick the decent people of this country in the guts one more time by bailing out all the Mewers, what a complete and utter tw*t
At last someone who speaks sence, can i vote you in for PM? Without the decent people this county will go under and alot of them are emigrating away from this mess!0
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