Originally posted by Gordon Brown
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USA Just Gone Bust
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Originally posted by BrilloPad View PostWell the markets seem to have responded well to the news. apparently it will help end the credit crunch.
BOOMED"Being nice costs nothing and sometimes gets you extra bacon" - Pondlife.Comment
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Originally posted by DaveB View PostNot so much end the credit crunch as help to make sure it doesnt get any worse. The two organisations hold around $3 trillion in mortgages which in turn are heavily leveraged with some of the biggest international banks. If Freddie and Fannie go under ( ooer missus ) that will leave a huge hole in the international banking system that would have some extreme consequences. By stepping in like this the US govt is commiting itself to preventing that happening. This means the markets can be more confident that the credit crunch is being controlled and hence a minor recovery in stock prices.Comment
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Surely the banks are going to be rolling in it eventually? The increase in house prices and therefore mortgage debt means that that money will be paid back with interest eventually, especially if profits are privatised losses are socialised. Booming (and the falling) house prices seems like a clever way of extracting money from richer people, except the very rich that don't borrow.Comment
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Originally posted by DaveB View PostNot so much end the credit crunch as help to make sure it doesnt get any worse. The two organisations hold around $3 trillion in mortgages which in turn are heavily leveraged with some of the biggest international banks. If Freddie and Fannie go under ( ooer missus ) that will leave a huge hole in the international banking system that would have some extreme consequences. By stepping in like this the US govt is commiting itself to preventing that happening. This means the markets can be more confident that the credit crunch is being controlled and hence a minor recovery in stock prices.
I expect house prices to double next year.
Boomed++
It was so easy in the end wasn't it? Just bankroll all the greedy private banks that made trillions $$$ in proft selling sub-prime tat using tax payers money.
I'm sure the American tax-payers won't mind their government sinking trillions $$$ propping up all the bad debt for generations to come.Comment
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Originally posted by DimPrawn View Post
I'm sure the American tax-payers won't mind their government sinking trillions $$$ propping up all the bad debt for generations to come.Comment
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Originally posted by oracleslave View PostAny viable alternatives for them?
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Originally posted by DimPrawn View PostYes, let them go pop, and pursue all the City bankers personally for any losses. Every single person involved in the banking industry in any shape or form should be personally bankrupted and made to pay every penny back over the last 10 years.
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Originally posted by DimPrawn View PostYes, let them go pop, and pursue all the City bankers personally for any losses. Every single person involved in the banking industry in any shape or form should be personally bankrupted and made to pay every penny back over the last 10 years.
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Oh, and the USA pumping money in like this will just delay the inevitable crash of world economies and make the crash when it comes, bigger and harder to cope with.
Doomed++Comment
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