US AAA Rating in Danger! Mexican Gang Massacre! Joblessness Continues!
- Length: 7:56
- Views: 2951
- Author: DEMCAD
Video commentary about the latest news including the AIG repays bailout money, Mexican drug gang 72 migrant massacres, massive drop off in home sales, 60% of Americans are obese, S&P warns that the US could lose AAA status, US death row inmate Troy Davis' innocence claim rejected and jobless claims drop, but are still high. Check out my blog! demcad.blogspot.com Jobless claims drop 31000 to 473000 www.marketwatch.com New home sales fall to record low www.latimes.com AIG repaying nearly $4 billion in federal loans news.yahoo.com S&P Says US Should Act to Protect AAA-Rating: Report www.cnbc.com Drug cartel suspected in massacre of 72 migrants apnews.myway.com US death row inmate Troy Davis' innocence claim rejected rt.com New Yorkers fight for jobs, nation battles over NYC mosque rt.com Fat in America rt.com
Ron Paul: Abolish Fannie Mae and Freddie Mac, and Replace Them With Nothing
- Length: 4:21
- Views: 89
- Author: flex4live
08/23/2010 - www.RonPaul.com Recently there have been some encouraging signs that Congress is finally willing to admit what should have been evident two years ago. After a $150 billion bailout, Fannie Mae and Freddie Mac are still bankrupt and should be abolished. Indeed, Representative Barney Frank, a long-time champion of Fannie and Freddie, has made a few statements alluding to this, and I have signed on to a letter asking him to clarify his remarks and hold hearings on this topic. There seems to be a growing consensus in favor of abolishing Fannie Mae and Freddie Mac. This is good news. The bad news is that instead of simply returning to the free market, Fannie and Freddie will probably be replaced with something equally damaging, and that this point we can only guess what that will be. One possibility is that instead of these two giant government-sponsored enterprises the government will deputize thousands of smaller banks to do the same thing, that is, securitize mortgages with the taxpayer's guarantee to encourage lending that otherwise would not happen. In other words, there will be a myriad of smaller Fannies and Freddies and government involvement will reach even deeper into the financial sector. Fannie and Freddie and thus the taxpayer have an alarming $5 trillion exposure to the mortgage market. To some, spreading out this risk might seem tempting, and a smart thing to do. But the fact remains that if a bank expects to lose money on a loan, so will the ...
Abolish Fannie Mae and Freddie Mac, and Replace Them With Nothing
- Length: 4:21
- Views: 5094
- Author: RonPaul2008dotcom
08/23/2010 - www.RonPaul.com Let the Housing Market Normalize! by Ron Paul Recently there have been some encouraging signs that Congress is finally willing to admit what should have been evident two years ago. Even after a $150 billion bailout, Fannie Mae and Freddie Mac are still bankrupt and should be abolished. Indeed Rep. Barney Frank, a longtime champion of Fannie and Freddie has made a few statements alluding to this and I have signed on to a letter asking him to clarify his remarks and hold hearings on this topic. There seems to be a growing consensus in favor of abolishing Fannie and Freddie. This is the good news. The bad news is that instead of simply returning to the free market, Fannie and Freddie will probably be replaced with something equally damaging, and at this point we can only guess what that will be. One possibility is that instead of these two giant Government Sponsored Enterprises (GSEs) the government will deputize thousands of smaller banks to do the same thing -- that is to securitize mortgages with taxpayer guarantees to encourage lending that otherwise would not happen. In other words, there will be a myriad of smaller Fannies and Freddies, and government involvement will reach even deeper into the financial sector. Fannie and Freddie, and thus the taxpayer, has an alarming $5 trillion exposure to the mortgage market. To some, spreading out this risk might seem tempting, and a smart thing to do. But the fact remains that if a bank expects to ...
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