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_Freddie Mac and Fanny mae 2004 Hearing_ - - - 3 messages. Showing 1 through 3.
Logan
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Joined 10/09/2007
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Daily Subscription Msg 1 Posted: 03:53 PM 09/30/08 (CST)
I just found this interesting.. Greg Meeks was on TV yesterday blaming republicans for this mess. Freddie Mac and Fannie May hearings in 2004.. It's interesting that the media has'nt mentioned any of this. Democrats in there own word covering up fannie and freddie scam that led to this economic disaster



Odin
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Joined 06/27/2007
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Daily Subscription Msg 2 Posted: 11:24 PM 09/30/08 (CST)
Hi Logan,

According to what I've read, 2 million houses are expected to be in foreclosure in the next year. $700,000,000,000 would allow the government to pay $350,000 for each one.

Freddy and Fannie didn't force investment houses to buy subprime loans, bundle them and sell them and related derivatives to suckers.
BigBite
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Joined 08/17/2004
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Daily Subscription Msg 3 Posted: 07:57 AM 10/01/08 (CST)
While the events of the past two weeks were dramatic, they do not rival the Great Depression. Then, 1,500 banks went under, factories closed, and one in four Americans was out of work. The current crisis hit Wall Street hard but has not devastated the US economy. Unemployment in August was 6.1 percent, a historically low rate, and the United States is technically not in a recession, which is defined by two consecutive quarters of negative economic growth -the economy grew 2.8 percent in the second quarter, the latest data available.




_Freddie Mac and Fanny mae 2004 Hearing_ - - - 3 messages. Showing 1 through 3.
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