tag:blogger.com,1999:blog-9171720617509610681.post3810798561486063838..comments2011-05-11T19:39:13.482-07:00Comments on I Must Do Something: I've Been Reading LatelyUnknownnoreply@blogger.comBlogger3125tag:blogger.com,1999:blog-9171720617509610681.post-47581430226485173362010-10-28T18:59:45.314-07:002010-10-28T18:59:45.314-07:00Not so Lucas! Do these people really own their own...Not so Lucas! Do these people really own their own homes??? No, they do not. They cannot afford them--that's where YOU AND I come in--we bail them out. Home ownership--or government servitude? Which is it? It was politicians in Washington who encouraged these high risk loans in the first place--all in the name of equality. They offered incentives and rewards (nearly in the form of MANDATES) to bankers to make these ridiculous loans--thus opening the door to all types of corruption and kickbacks between bankers and politicians. Yes, I realize that there's a good chance that most mortages will be sold to a second, third or even fourth financial institution. You have to MOVE money to MAKE money. However; I totally disagree with you that the federal government is the only game in town. If they got out of the banking industry and let banks work at a local level--we'd have a much more stable economy. My own credit union for example: We took out our mortgage with our local credit union--they DO NOT SELL MORTGAGES. Neither do they participate in "risky lending practices." They are now the second most secure credit union in the country for credit unions their size. A smattering of nonsense? Me thinks not! If you don't like the blog--don't read it. Now do your homework!SAVE AMERICAhttps://www.blogger.com/profile/12476946413572067396noreply@blogger.comtag:blogger.com,1999:blog-9171720617509610681.post-34129673255164122602010-10-28T18:43:14.508-07:002010-10-28T18:43:14.508-07:00http://www.americanthinker.com/2008/07/meet_fannie...http://www.americanthinker.com/2008/07/meet_fannie_mae_and_freddie_ma.<br /><br />htmlhttp://iusbvision.wordpress.com/2009/04/04/fannie-mae-and-freddie-mac-paying-210-million-in-bonuses-with-your-money-and-no-outrage-why/<br /><br />http://rightwingnews.com/2010/10/barney-franks-decades-long-lie/SAVE AMERICAhttps://www.blogger.com/profile/12476946413572067396noreply@blogger.comtag:blogger.com,1999:blog-9171720617509610681.post-38032354839802040562010-10-27T09:24:58.352-07:002010-10-27T09:24:58.352-07:00There is a good deal of truth in what you say, and...There is a good deal of truth in what you say, and there is, unfortunately a smattering of nonsense. A case in point is you Fannie Mae comment. Fannie Mae needs an overhaul, I am with you there. But discontinue Fannie Mae? Do you really understand what Fannie Mae does? I dont think you do. Without a secondary real estate market (an entity, like Fannie Mae that buys loans from banks)our home ownership rate would be much lower, try around 40 to 50%. Thats what it was prior, and that is what the rates of countries that dont have evolved secondary markets have. Not only that, interest rates would skyrocket, because money would be very limited, it would be tied up in mortgages. I admire what you are doing, but you are painting at times with a brush that is too broad, and trusting the words of polititions (who have been educated by interest groups) and the media, (which has its own agenda).Lucashttps://www.blogger.com/profile/15091564701623152983noreply@blogger.com