US Gov't steals $10 billion from Fannie Mae
 

Fannie May made $10.1 billion in the last quarter, the US government who bailed them out takes 100% of the earnings as a partial payoff.
The bondholders of Fannie Mae are without any power as a rule change was forced onto the publicly listed company FNMA where instead of a longer term payoff of apprx 10% of earnings to now 100%.

What kind of anti capitalism is that?
Anyone who offers a loan in the real world offer reasonable pay back terms.

I dont understand what is happening to this country, but it aint good.

more here:
http://dealbook.nytimes.com/2013/07/...fanniemae&_r=0

Now they know how it feels.

So you feel sorry for crooks? Fuck them, and fuck AIG too. They should rot in hell.

The US Government also takes money from the US Post Office too. Go figure.

Companies should pay back what they owe as quickly as possible. It's not a loan.

I might be wrong here but without the bailout Fannie Mae would no longer exist correct? Had they gone under without a bailout those bondholders would have gotten nothing. At least now, eventually, they will likely get something.

Still it seems kine of crazy how they can just change the terms of the payback. It seems to me like it would make for a pretty unstable company.

I was thinking the same! None of these cocksucking criminals are in jail! I always thought America loved throwing criminals in jail; electrocute graffiti artists, electrocute invalid bus passengers, post their muckshots all over the place; calling for capital punishment, etc... even on this morally degenerated board there is one thing everyone is unanimous about: you should rim the ass of father judge and mother justice.

Bahhhhh

That's less than the amount that the Government gave Fanny Mae to bail them out.

Let. Them. All. Die.

I dont have a problem with this

ok what about the policeman's pension fund who invested in this company, they are just screwed because the US government says it is ok for them to change the terms of loan pay back? Instead of taking 10% as what was originally agreed we will just take 100% and even after all the bailout money has been paid back to us we will still remain in control over this company, effectively changing it to a government asset.
(wait a sec, isnt that what communist totalitarian governments do?)

that mortgage mess took down everyone and now the companies are making it all back thanks to government bailouts. The banks took the money, used it to generate interest free loans, and never paid it bank either. Should have let them fail.

"The bailout was borne out of the government’s desperate attempts not to put the two companies’ trillions of debt on its books. Even though the government thought they were worthless, the common stock and preferred stock were left outstanding, so it could be argued that the two government-sponsored enterprises were still independent. At the time, the government likely thought this wouldn't be a problem because Fannie and Freddie were thought to be insolvent.

But by 2012, Fannie and Freddie unexpectedly turned back into profitable firms. Seeking a way to keep the common and preferred stock worth nothing, the government changed the way the two paid their dividends in a fashion that meant all dividends went directly to Treasury – that any remaining common and preferred-stock holders would receive nothing."

When ever I here the name Fannie mae it always remind me of pussy cause here in the UK we call pussy - fanny

I don't think it was a loan as much as a forced bail out. They should have all the money returned to tax payers as soon as possible.

No, under a communist govt it never would have been a private company in the first place.

Hey, you know that most of the deficit is borrowed from Social Security right?

yeah, who'd have thought the government would actually want their loan money BACK????????

they should have let the fucking company fail and let all the investors loose everything if America was capitalist.


idiot

They didn't steal shit you dumb fuck!

"What kind of anti capitalism is that?"
The kind where the gov bailed their ass out instead of letting them go under like a real capitalist would have

To the negative inputters - so you've never had a credit card? :pimp

no different that GM, you dont see GM stockholders being forced out.

Exactly, the us government forgot to check legalities..

like GM and AIG right, oh wait a sec...

That might be true and most people who get ss compensation especially veterans and retirees certainly deserve that, BUT our government is squandering money left and right on all kinds of shitty stuff.
Everybody says yeah return it to the tax payers, yeah right tax payers will never see a dime of those billions. goes right into the federal budget to be wasted away.


exactly, it is called investing for a reason.

you are right, they didnt steal cause that would be illegal :thumbsup