Tag Archives: Fannie Mae
Standard & Poor’s Ratings Services on Monday downgraded the credit ratings of Fannie Mae and Freddie Mac and other agencies linked to long-term U.S. debt.
The agency also lowered the ratings for: farm lenders; long-term U.S. government-backed debt issued by 32 banks and credit unions; and three major clearinghouses, which are used to execute trades of stocks, bonds and options.
All the downgrades were from AAA to AA+, reflecting the same downgrade S&P made of long-term U.S. government debt on Friday.
On Saturday, the broke Fannie and Freddie says they want to suck more money from the broke United States of America.
Mortgage finance giant Fannie Mae said it would ask for an additional $5.1 billion from taxpayers as a weaker housing market causes continued losses on loans made prior to 2009.
Sounds a whole lot like what they said in March of 2009:
“Fannie Mae said it submitted a request Wednesday for 15.2 billion dollars from the Treasury “in order to eliminate our net worth deficit as of December 31, 2008.”
Fannie is a pig.
Posted: 08.05.11 @ 10:56 a.m.
The “Porker of the Month” award could not have gone to a more deserving person than Barney Frank. He is so much a part of the problem that he should be before his own committee answering questions instead of AIG executives. Barney has no shame.
In September 2003, Frank told The New York Times that Fannie Mae and Freddie Mac “are not facing any kind of financial crisis.” Both Fannie and Freddie are now almost entirely owned by the government, and while Freddie Mac got $13.8 billion in bailout money last year, Fannie Mae is estimated to get $15.2 billion in 2009, according to the CAGW.” (Citizens Against Government Waste).
“Even in this global capital of hot air, bait-and-switch politics, and double-talk, Chairman Frank deserves singular recognition,” said CAGW President Tom Schatz. “It strains credulity to hear him rebuking anyone for rewarding failure after he helped create the disaster in the first place.”
See story here.
Senator Barack Obama received a $101,332+ bonus from American International Group (AIG) in the form of political contributions according to Opensecrets.org. The two biggest Congressional recipients of bonuses from the A.I.G. are – Senator Chris Dodd and Senator Barack Obama.
Is there any wonder they wanted to see AIG get their bonuses? Bob Shrum, democratic blubbermouth, is trying to cover for Chris Dodd. It’s going to take a very large cover.
And Maxine Waters? She has a lot of nerve. She says President Obama has some “explaining to do.” Of course he does, but then so does Mz. Waters!! Review, Preview – watch her here praising Franklin Raines and Fannie Mae, zero down payments, so forth.
These people have sold our country out. The AIG bonuses are just the tippy, tip, tip of the iceberg.
Boy, oh, boy, we sure do have the foxes in the hen house. The guilty parties are in charge of the “recovery.”
All together now…..O-Ba-Ma, O-Ba-Ma.
You can build, you can buy, any house your heart desires. Zero down financing,I am the banking queen…..
Friday night and your cash is low,I know a place where you can go/Get your house and use it,go ahead abuse it, you can do anything.Go out and have a fling,I am the banking queen,old and sweet,didn’t do a thing!Banking queen don’t complain or you’ll hear me scream Oh yeah….chorus
Told the bankers, Hey you guys! Make the loans or it’s your behind. My friends at Fanny sure need it, do it my way or beat it, while the stock’s crashing. That doesn’t mean a thing, I’m still the banking queen–no respect for a single thing. Banking queen don’t compwain or you’ll here me scream!
(Not exact, but close) 🙂