Raising taxes for what???? It would have to be for something VERY sustainable for ALL......OKAY,,,raise taxes, send me a 'food check' every month so I
can get groceries.....sustainable???.....my family and I eat the food crap it out and-----who benefits???? this is not sustainable management skills
of the edumacated kind.......

This can be applied to anything that decomposes and rots......the shepherds of the sheeple have lost their flavor of salt and this pasture has been
spent(by others)........

Quoted Text

Freddie Mac seeking additional $10.6B
BY ALAN ZIBEL The Associated Press

    WASHINGTON — Freddie Mac is asking for $10.6 billion in additional federal aid after posting a big loss in the first three months of the year. It’s another sign that the taxpayer bill for stabilizing the housing market will keep mounting.
    The McLean, Va.-based mortgage finance company has been effectively owned by the government after nearly collapsing in September 2008. The new request will bring the total tab for rescuing Freddie Mac to $61.3 billion.
    But the company’s CEO Charles Haldeman said, “We are seeing some signs of stabilization in the housing market, including house prices and sales in some key geographic areas.”
    Freddie Mac set aside $5.4 billion to cover credit losses from bad mortgages, down from $7 billion in the final three months of last year.
    Haldeman cautioned, however, that the housing market “remains fragile with historically high delinquency and foreclosure levels” and high unemployment.
    Created by Congress, Freddie Mac and sibling company Fannie Mae buy mortgages from lenders and package them into bonds that are resold to global investors. As the housing bubble burst, they were unable to raise enough money to stay afloat, and the government effectively nationalized them.
    Since then, Uncle Sam’s share of the mortgage business has kept getting bigger. Government institutions — mainly Fannie Mae, Freddie Mac, the Federal Housing Administration and the Veterans Administration — backed nearly 97 percent of home loans in the first quarter of 2010, according to trade publication Inside Mortgage Finance.
    Late last year, the Obama administration pledged to cover unlimited losses through 2012 for Freddie and Fannie. Freddie’s new request will bring the total taxpayer tab for both companies to about $136.5 billion.
    Fannie Mae is expected to release earnings soon and may also request additional fi nancial aid. ................>>>>........................>>>>...................http://www.dailygazette.net/De.....r00702&AppName=1

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AS OTHERS SAY IT Fannie, Freddie failures

    Congress created two companies, Fannie Mae and Freddie Mac, to buy mortgages from lenders, package them into bonds, and resell them to global investors.
    These government-created monsters helped fuel the housing bubble that finally burst. When it did, Fannie and Freddie swooned.
    To prevent the collapse of its creatures, the government promised that taxpayers would bail them out when their net worth went negative. From September 2008 until just recently, Fannie and Freddie had borrowed almost $137 billion.
    “Freddie has lost $82 billion over 10 of the past 11 quarters,” wrote Nick Timiraos of the Wall Street Journal, “or nearly twice the amount it earned in the previous 30 years.”
    The Congressional Budget Office estimates that taxpayers may have to pour $389 billion into Fannie and Freddie through 2019.
    Congressional financial gurus still grandstand about how they’re going to straighten businesses out.
    Taxpayers who have been volunteered to bail out General Motors, AIG, monster banks, Fannie, Freddie and others no longer listen to that with any faith.
    --Charleston (W.Va.) Daily Mail

http://www.dailygazette.net/De.....r01104&AppName=1

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Congress created two companies, Fannie Mae and Freddie Mac, to buy mortgages from lenders, package them into bonds, and resell them to global investors.

And lets not forget that it was the clinton administration that FORCED banks to give loans to the 'risky'. This is another prime example of what happens when the government takes control!

The blame for this economic crisis falls squarely in the lap of our government! Their lust for power and greed spilled over into the business arena. It then spilled over into our lives. It's a vicious circle....power, greed and plenty!! The government wanted it.....told us we were entitled to it.....and corporations expanded on it!

.......and now we are almost BROKE!

I saw some guy on MSNBC or CNN recently talking about the government's buying of certain companies (bailout) is starting to resemble Warren Buffet's portfolio.  IF some of these companies can turn it around it MIGHT be a good thing for the US.

Do you think power and greed no longer exist? If it doesn't exist any longer, perhaps we have a chance. Although I highly doubt that!

Some who watch the market say we may be in for a second big crash and the market may lose much of it's value and now the government is holding a lot of paper in some of the worst companies, GM, Fannie Mae, Freddie Mac, and AIG. I heard on the news Friday night that the USA thru AIG is backing the money being lent to Greece. AIG is holding the insurance policy and will pay if the bailout fails.

And to think that the average Joe is still investing their money in the stock market! People are crazy!!!

Quoted Text

Fannie Mae asks
more federal aid
    WASHINGTON — Government-controlled mortgage buyer Fannie Mae is asking for $2.5 billion in federal aid after posting a narrower loss in the third quarter.
    Fannie Mae also said Friday it was likely that the market disarray and suspension of foreclosures due to big lenders’ problems with flawed documents will have a negative impact on the delinquency rates of its loans, its expenses and foreclosure timelines. However, the company said, “we cannot yet predict the extent of its impact.”
    Fannie Mae said Friday it lost $3.46 billion, or 61 cents a share, in the July-September quarter. That takes into account $2.1 billion in dividend payments to the Treasury Department. It compares with a loss of $19.8 billion, or $3.47 a share, in the third quarter of 2009.

http://www.dailygazette.net/De.....r00501&AppName=1

folks cant afford the taxes....hence, fannie and freddie will drop the market values like a pair of cement boots......