Wall Street cheers Fannie, Freddie bailout

Robbien

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Sun Sep-07-08 07:29 PM
Original message

Wall Street cheers Fannie, Freddie bailout

NEW YORK (AP) — Wall Street finally got what it's been angling for: a bailout of Fannie Mae and Freddie Mac that could aid a recovery of the broken U.S. housing market and arrest a slide in stock and credit markets worldwide.

Overall, the move is a positive for banks around the world, including Citigroup Inc., Merrill Lynch & Co. and UBS AG that invested in U.S. mortgages

http://ap.google.com/article/ALeqM5jy692KLMSLspHP266VKGfJPAR1CgD9325PEO0

There is nothing in the bailout to help distressed homeowners pay their mortgages and get people to start buying houses again.

The article states that helping the lenders will overall help the mortgage market and a trickle down effect will help homeowners.

Here we go again, the little guy paying for programs to help out the wealthy in order that they can trickle down on us.

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baldguy

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Sun Sep-07-08 07:30 PM
Response to Original message

1. F'ckin Wall Strret communists!

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ixion

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Sun Sep-07-08 07:30 PM
Response to Original message

2. the "free market" fellas cheering communism...

no hypocrisy there. :eyes:

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Andy823

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Sun Sep-07-08 07:31 PM
Response to Original message

3. Yep, the Bush-McCain economy package

Help the rich, con the poor, and leave the bill to future generations! No wonder we are in such trouble in this country, and don't forget, McCain wants to "help" those big corporations even more!

We can't afford 4 more years of this crap.

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54anickel

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Sun Sep-07-08 07:32 PM
Response to Original message

4. I was just checking out the futures......f'ing amazing

http://money.cnn.com/data/premarket/

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Robbien

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Sun Sep-07-08 07:36 PM
Response to Reply #4

6. Time to be blowing up the balloons and shredding up the confetti

Edited on Sun Sep-07-08 07:43 PM by Robbien

There's a party going on!

for some.

Not so good for many others.

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MadHound

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Sun Sep-07-08 07:32 PM
Response to Original message

5. Once more, if you do the right thing, plan ahead and stay within your budget

You still get screwed and wind up having to pay for other people's greed and stupidity. Bailing out the banks, the mortgage firms, and a relative few homeowners. Gee, when are we, the ones who do the right thing going to get a bailout?

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Robbien

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Sun Sep-07-08 07:39 PM
Response to Reply #5

7. No homeowners will get bailed out

Trickle down, never trickles down. Not in this U. S. of A.

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