# Freddie & Fannie Bailout
**URL:** https://forums.speedlife.net/t/freddie-fannie-bailout/52104
**Category:** NYSpeed Off Topic
**Created:** [July 24, 2008, 1:35pm UTC](https://forums.speedlife.net/t/freddie-fannie-bailout/52104 "2008-07-24T13:35:34Z")
**Posts on this page:** 20
**Page:** 2
### Author:  [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)
#### Post date: [July 24, 2008, 3:02pm UTC](https://forums.speedlife.net/t/freddie-fannie-bailout/52104/21 "2008-07-24T15:02:02Z")
> [@Penfold](#):
>
> Just don’t forget that your ferrari is going to cost more with a weaker dollar.
I am in it for me but i was joking about not giving a shit. I just think they are tough calls to make.
> [@Joe](#):
>
> The Ferrari goes along perfectly with point and laugh economics. “More than you can afford, PAL. HA HA!”
Sounds about right. :pointandlaugh:
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### Author:  [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)
#### Post date: [July 24, 2008, 3:04pm UTC](https://forums.speedlife.net/t/freddie-fannie-bailout/52104/22 "2008-07-24T15:04:39Z")
> [@Fry](#):
>
> The one intelligent thread all day that I could actually learn something from, and apathy took over after like 6 posts. Damn.
If you ever want to learn how to make millions just feed me about a 12pack and a load of shots. The other night WASTED I called the financial rally and cleaned house the next day. JOE is my witness. Actually I am confident I lost money today from being too sober and not hungover.
So who wants to go drinking?
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### Author:  [@Fry](https://forums.speedlife.net/u/Fry)
#### Post date: [July 24, 2008, 3:06pm UTC](https://forums.speedlife.net/t/freddie-fannie-bailout/52104/23 "2008-07-24T15:06:30Z")
lol that’s going on my to-do list. :tup:
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### Author:  [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)
#### Post date: [July 24, 2008, 3:31pm UTC](https://forums.speedlife.net/t/freddie-fannie-bailout/52104/24 "2008-07-24T15:31:56Z")
If the rest of the economy was strong this bail out may work BUT, that is not the situation we are in.
The bank execs are going to walk away with hundreds of millions (more) and we are going to be standing there like a bunch babies that just had their candy taken.
“FUCK, WE JUST GOT FUCKED AGAIN BY THE SAME FUCKING PEOPLE!”
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### Author:  [@Joe](https://forums.speedlife.net/u/Joe)
#### Post date: [July 24, 2008, 3:42pm UTC](https://forums.speedlife.net/t/freddie-fannie-bailout/52104/25 "2008-07-24T15:42:41Z")
So lets get this straight. Mortgages go in the shitter. All of the private lenders bail out and sell off their mortgage backed securities. The only thing saving them from completely tanking is that Freddie and Fannie, being government sponsored, have to buy them up. Now you want to let them fold? What happens if mortgages aren’t profitable? In a pure capitalist economy, they disappear. This is the rare case where the government has to step in for the greater good and save the market makers.
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### Author:  [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)
#### Post date: [July 24, 2008, 3:50pm UTC](https://forums.speedlife.net/t/freddie-fannie-bailout/52104/26 "2008-07-24T15:50:22Z")
We are talking about 2% of mortgages.
2%!!!
Some banks gambled and lost. So sorry.
The banks I use are healthy because they are smart and maybe more importantly ETHICAL!!!
Is the govt going to pay for my casino losses?
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### Author:  [@Nikuk](https://forums.speedlife.net/u/Nikuk)
#### Post date: [July 24, 2008, 3:53pm UTC](https://forums.speedlife.net/t/freddie-fannie-bailout/52104/27 "2008-07-24T15:53:06Z")
> [@AWDrifter](#):
>
> We are talking about 2% of mortgages.
> 2%!!!
> Some banks gambled and lost. So sorry.
> The banks I use are healthy because they are smart and maybe more importantly ETHICAL!!!
>
> Is the govt going to pay for my casino losses?
what is the appropriate alternative?
What SHOULD be done to avert total panic on the street and at the teller?
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### Author:  [@Avatar](https://forums.speedlife.net/u/Avatar)
#### Post date: [July 24, 2008, 3:59pm UTC](https://forums.speedlife.net/t/freddie-fannie-bailout/52104/28 "2008-07-24T15:59:46Z")
Bail out companies that made VERY bad business decisions, setting a precedent for other huge companies to roll the dice and make bad business decisions.
or…
Let them go under. Bite the bullet.
Bailing out Freddie and Fannie is BAD for our economy. Make no mistake about that.
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### Author:  [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)
#### Post date: [July 24, 2008, 4:02pm UTC](https://forums.speedlife.net/t/freddie-fannie-bailout/52104/29 "2008-07-24T16:02:54Z")
> [@Nikuk](#):
>
> what is the appropriate alternative?
>
> What SHOULD be done to avert total panic on the street and at the teller?
Panic on the street?
Don’t be a drama queen.
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### Author:  [@Nikuk](https://forums.speedlife.net/u/Nikuk)
#### Post date: [July 24, 2008, 4:03pm UTC](https://forums.speedlife.net/t/freddie-fannie-bailout/52104/30 "2008-07-24T16:03:29Z")
> [@AWDrifter](#):
>
> Panic on the street?
> Don’t be a drama queen.
ok, what do you srsly expect would happen to wall street, on the trading floor, if they collapsed?
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### Author:  [@Avatar](https://forums.speedlife.net/u/Avatar)
#### Post date: [July 24, 2008, 4:05pm UTC](https://forums.speedlife.net/t/freddie-fannie-bailout/52104/31 "2008-07-24T16:05:44Z")
Freddie and Fannie are insolvent. Their failure is bad. Yes, this will hurt us in the short-term.
A bail-out will hurt us in the short-term and keep hurting us many years into the future.
Americans (especially American investors) have a real aversion to looking at the long-term effects of our actions.
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### Author:  [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)
#### Post date: [July 24, 2008, 4:06pm UTC](https://forums.speedlife.net/t/freddie-fannie-bailout/52104/32 "2008-07-24T16:06:38Z")
> [@Avatar](#):
>
> Bail out companies that made VERY bad business decisions, setting a precedent for other huge companies to roll the dice and make bad business decisions.
>
> or…
>
> Let them go under. Bite the bullet.
> Bailing out Freddie and Fannie is BAD for our economy. Make no mistake about that.
This is why I have given up on contributing to threads like this one. How can you think so highly of your opinion to state it as an absolute hahahah what a fucking joke. I really hope you are on the up and up to being a CEO or some shit if you have just got this simple game on lock the way you think you do. Actually can you come over to my house I have a lot of questions about life that you might be able to answer for me. Im just giving you a hard time please don’t respond all serious and shit. Smooches
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### Author:  [@Avatar](https://forums.speedlife.net/u/Avatar)
#### Post date: [July 24, 2008, 4:09pm UTC](https://forums.speedlife.net/t/freddie-fannie-bailout/52104/33 "2008-07-24T16:09:49Z")
I don’t have my PhD. But, I do know a little something about economics. Tell me how my statement is in any way non-realistic.
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### Author:  [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)
#### Post date: [July 24, 2008, 4:10pm UTC](https://forums.speedlife.net/t/freddie-fannie-bailout/52104/34 "2008-07-24T16:10:15Z")
> [@Nikuk](#):
>
> ok, what do you srsly expect would happen to wall street, on the trading floor, if they collapsed?
To be honest I would make a fortune because it would oversell the shit out of all financials buy in big before closing on a few random picks and catch the profit on the oversell rebound as people realize not ALL financials are going under like they do every time. Then I would probably play some golf. But I do not think this is best long term.
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### Author:  [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)
#### Post date: [July 24, 2008, 4:12pm UTC](https://forums.speedlife.net/t/freddie-fannie-bailout/52104/35 "2008-07-24T16:12:15Z")
> [@Avatar](#):
>
> I don’t have my PhD. But, I do know a little something about economics. Tell me how my statement is in any way non-realistic.
Im not saying it isn’t it is for sure a viable option. I was simply commenting on the way you worded the last sentence basically saying you are 100% sure its a bad move. I think that is kinda harsh no matter how much you believe your opinion. I was just dicking around anyhow I respect all opinions on these matters.
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### Author:  [@Nikuk](https://forums.speedlife.net/u/Nikuk)
#### Post date: [July 24, 2008, 4:12pm UTC](https://forums.speedlife.net/t/freddie-fannie-bailout/52104/36 "2008-07-24T16:12:34Z")
:tinfoilhat:
I’m out.
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### Author:  [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)
#### Post date: [July 24, 2008, 4:15pm UTC](https://forums.speedlife.net/t/freddie-fannie-bailout/52104/37 "2008-07-24T16:15:26Z")
> [@Nikuk](#):
>
> and you would be one contributing to the overall problem…
>
> not that you have a bad approach, personally.
Absolutely I contribute to the problem in a near daily basis. When things are healthier and people pull the tin off their head i will stay invested longer in good companies. But like I said earlier I am in it for me hahaha and unfortunately with the market as volatile as it is right now this is my best approach as of now. ☹
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### Author:  [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)
#### Post date: [July 24, 2008, 4:16pm UTC](https://forums.speedlife.net/t/freddie-fannie-bailout/52104/38 "2008-07-24T16:16:00Z")
> [@Nikuk](#):
>
> :tinfoilhat:
>
> I’m out.
+1
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### Author:  [@Avatar](https://forums.speedlife.net/u/Avatar)
#### Post date: [July 24, 2008, 4:16pm UTC](https://forums.speedlife.net/t/freddie-fannie-bailout/52104/39 "2008-07-24T16:16:22Z")
Internet = srs business
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### Author:  [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)
#### Post date: [July 24, 2008, 4:23pm UTC](https://forums.speedlife.net/t/freddie-fannie-bailout/52104/40 "2008-07-24T16:23:00Z")
> [@Nikuk](#):
>
> ok, what do you srsly expect would happen to wall street, on the trading floor, if they collapsed?
The same thing that happens without bailouts, mahem.
If you think bank bailouts (because of some risky mortgages) are going to save the market I really don’t know what to tell you.
Maybe you should learn more about what’s going on around the globe.
Edit: Maybe just your backyard, the big 3 auto makers are on their knees, the airlines have laid off more 30,000 people this year, etc, etc. The mortgage bail out is no silver bullet no matter how bad people want it to be. US citzens tend to cling to the first thing they hear without actually thinking about the reality. Thank you mainstream media.
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