Cluebat for the media
Fannie and Freddie Are Called “Government-Sponsored Enterprises” for a reason, maroons.
Posted in: Subprime crisis
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The cost of socialism. Wonder how much free health care will cost?
You ever get that quizzical look from your dog when your trying to “explain” something to him. Same look the libs get when you try and educate him. At least we can paper train or kennel the dog.
You can’t shame the DKM with facts about their bogus reporting.
Sadly, the biggest cost, or loss actually, will be of high quality health care, turning us into another Great Britain or Canada.
They should have been taken over long before we got this high a price tag. Problem is that Libs don’t mind spending your money to help out more Libs.
The truth is irrelevant to them. All the lefty websites are leading off today with various iterations of “Liar”.
Fortunately, the majority of centrist, moderate, middle America doesn’t read these partisan websites (most don’t even know what/who they are), but they do watch ABC.
Go, Sarah, Go!!
It was interesting how the media was just looking for a gaffe when Sarah Palin said that Freddie Mac and Fannie Mae had gotten big and expensive for the taxpayers. It would seem that both the liberal politicians and their media lapdogs also need an education about economics. Government-sponsored enterprises mean that there is some government intervention in what are supposedly private enterprises.
These two entities are famous for giving very iffy, risky loans to underserving groups of people… minorities and low-income folks who are very familiar with government handouts. The MOAB is a big signal to these “welfare lifers” that if you’re going to bail out the “rich” then you better get me some as well.
Is this what America is now? Something for nothing? You agree to pay a mortgage and when you take on too much, instead of admitting that mistake and doing something to correct it, you keep on whining how life is unfair?
Thank God my husband and I never got a home. Homes aren’t investments…. they’re not part of your stock portfolio… and they’re definitely not a disposable ATM. These ideas would be hilarious if they weren’t so wrong.
America is in trouble when not only the media but the consumer think that handouts are deserved and a right to Americans…. such as college or healthcare.
The media needs more than just a clue bat, they need a megaton clue bomb dropped on them.
Sorry to be O/T
If any TX here are in the storms, Ike, field, there is a great site to track if you don’t have it. It is…stormpulse.com.
I live near Corpus and have sent it to all I know in the area.
L
Looks like some of the biggest New Deal and Great Society (does anybody remember that phrase?) turkeys are finally coming home to roost. Way to go, George (not that this wasn’t going to happen anyway, but by speeding up the process so that it falls on a Republican Administration and therefore can be blamed readily on the free market, that was something.) Coming up next, Social Security.
More and more, the MSM appears to be broadcasting from the Starship Enterprise.
Thanks letget. I’m a CC gal myself. Packing up as we speak. Just in case.
I swear that egg must taste so damn good. The media is constantly putting it on their face.
There was a great moment on Fox News Sunday this past weekend. Juan Williams was unhinged going at Bill Kristol about the FaMae/FrMac bailout. Kristol is just sitting there with a look of self-assured satisfaction waiting for Williams to break his diatribe. Finally Kristol is able to ask: “Who has been supporting these (GSE’s) for years?” Begrudgingly, Williams responds: “Well, Democrats… OK, I’ll give you that one.”
Too busy studying junteenth, funded by Ayers and Obama…
Ive been looking to buy houses here in the bay area and people are Bidding on foreclosure properties. Bidding!!!!! Meaning, Bank is making *more* profit off what they lost.
The bailout of these banks is criminal.
lord i’m getting tired of bailing out failed government policies. floods, hurricanes, and forest fires aren’t a once in a while event. these occur in certain areas OFTEN. if you are living in these areas, insure yourself against these events. oh yeah, DON’T SPEND MORE THAN YOU MAKE!
Why was the Obama campaign so keen on getting advanced word about the bailout?
“They have a huge problem with the mortgage and housing market story, and everyone is missing it,” says a Republican political media consultant with ties to the Obama campaign due to the bipartisan nature of the firm he does work with.
“You look at Obama’s economic advisers, the guys he has counted on from day one and who have raised him a ton — and I mean a ton — of money: Franklin Raines and Jim Johnson, both of them are waist to neck deep in the mortgage debacle.”
Both Raines and Johnson have served as CEO of Fannie Mae, with Raines taking over from Johnson. Both are key political and economic advisers to Obama.
“How can Obama go out with a straight face and saw it was Republicans who made this mess, when it is his key advisers who ran the agencies that made the big mess what it is?” says a Democrat House member who supported Sen. Hillary Rodham Clinton. “It’s his people who are responsible for what may well be the single largest government bailout in history. And every single one of them made millions off the collapse that are lining Obama’s campaign coffers. If the McCain campaign lets this one go, they deserve to lose.”
It isn’t just Fannie Mae where Obama has a problem. Another close political adviser, in fact the one man responsible for rallying support for Obama early on among Congressional Democrats, is Rep. Rahm Emanuel, who served on the Board of Directors for Freddie Mac after leaving the Clinton White House. According to Freddie Mac insiders, Emanuel during his time on the board opposed every reform proposed by the Bush Administration that would have impacted Freddie and Fannie Mae.
http://www.spectator.org/dsp_article.asp?art_id=13841
Ford, and General Motors are starting to line up for their hand out. Who’s next, the public school system?
Yeah, I hear you, Beenthere. Unfortunately, many intellectually dishonest people will blame Pres. Bush for this mess. I’m not saying he didn’t play a role but let’s just blame both parties and leave it at that.
Pres. Bush has been a disappointment for economic conservatives like me. McCain will be no better and I’m alarmed that the sheeple actually think they can get free stuff (healthcare and college) without paying the piper. Unfortunately, the FM’s are so entrenched in the mortgage industry it’s gonna take a humungous crowbar to pry them away and break them up (which they need to be).
A few words on Social Security and the other social welfare handouts that FDR was responsible for. Why is FDR so popular (like even Johnson)? Because he’s one of their original social welfare daddies.
I say let all these social welfare programs fail. We put more money into their budgets than even the military. That should say something right there.
I’m sorry that people didnt plan sufficiently for their retirement and it’s not my job or the government’s job to give you a paycheck because you didn’t manage your money to have enough to live off of in your retirement. While I do believe if you’re not self-sufficent for health reasons and age you deserve some help, the same does not hold true for the wilfully ignorant (cough cough liberals).
On a side note, my eyes were opened up much more after talking to my mother who complained to me about how the rich are “evil” and don’t pay their fair share. I said, “Mom, without those evil rich, you wouldn’t have a job.” She didn’t have much to say to that so she just kept on railing against the rich, how they screw the middle class and while I agreed that some rich do take advantage, I pointed out that Bill Gates has given a significant portion of his wealth away. She didn’t know what to say to that either.
My mother is a life-long Republican in Upstate New York. This is the seduction of socialism. If you already have a perceived grudge against the wealthy (my mom grew up poor), it only takes a bad economy to feel like a “victim.” My mother has never said anything like this until just this past week.
Gee, we had to move because my active-duty AF wife got orders. We bought a house in our new duty location, but our house in the previous location (which has been on the market since March!) still hasn’t sold. Our first payment for the new house is 1 Oct. If the old house doesn’t sell soon, it’ll be rough, but I think we can swing it if we cut out movies, eating out, DirecTV, adjust the thermostat, etc. Should we have bought a much bigger house, defaulted on the loan and demanded a bail-out? I’m feeling a little left out, here…
Liberal think means that an organization that was started byt the government, funded by the government, and is controled by the government is a privately owned organization
Explaining something like this to liberals is like trying to teach a monkey to read. All it does is frustrate the teacher and confuse the monkey.
But you hear the libs uttering “As Gd is my witness I thought turkeys could fly.”
And we the taxpayers get screwed. And screwed. And screwed. Why don’t we learn? Guv’mint ain’t the answer. Ronald Reagan tried to tell us years ago that guv’mint WAS the problem. And we kept electing the dorks that created it. For decade after decade. Jeez. And it has been asked above, what will that do for the guv’mint run single payer health plan? Gawd. Pass the K-Y gel and bend over, here it comes again (BOHICA). Maybe, just maybe, McCain/Palin can avert the coming boondoggles.
WKRP, with more music and Les Nessman.
Because morons set them up, run them and bail them out?
Remember the inflation of Uncle Jimmy? It’s baaack. It is the only way they can pay off the debt–soft dollars for hard.
It is called Government Policy. Want to see something REALLY scary? Now FDIC is saying they is nothing to worry about which is Governmenteese for WORRY.
You will be able to pay off your house with soft dollars, but your 401, IRA and savings need a looking at.
Has anyone seen the WSJ article from McCain and Palin regarding this?
Ya beat me to it. From the linked article:
Social Security … Medicare/Medicaid … Welfare … every time the government is relied upon to manage large budget social programs, it’s always the same: Waste, fraud, corruption, inefficiency and ultimately insolvency.
And yet we keep hearing about how the “answer” is always more government intervention.
A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world’s greatest civilizations has been 200 years.
[Author of quoted passage unknown]
This is OT, but I just read this op ed by Kirsten Powers, Dem strategist. Very interesting read. Too bad Obama’s campaign didn’t talk to her first.
http://www.nypost.com/seven/09092008/postopinion/opedcolumnists/how_obama_blew_it_128132.htm
When you rob Peter to pay Paul, you can always count on the support of Paul.
I forgot who said that, but it’s spot on. Paul = Democrat constituencies
Well, it may cost you your life.
I already turned down a job with more pay because it places me in a higher tax bracket. The last thing I want to do is to pay more in taxes to bailout the greedy, lazy, stupid or entitled of this country.
My shares have hit all-new lows, with just under 10% drops today alone as a direct result of this bailout (and they are not banking sector). Shows how much confidence We The People have in the government. Face it – government running anything is the kiss of death – they will run Fannie and Freddie into the ground. The only part of our state govt that used to run at a profit was the business tax auditing group, who were already majorly understaffed and only able to audit a fraction of 1% of all business returns. So what did the government do? Cut the audit staff, of course.
These people couldn’t organize a beer in a brewery.
On September 9th, 2008 at 2:06 pm, josetheguerilla said:
The Airlines, again.
Considering Obama got the Lion’s share of Freddie/Fannie lobby money I wonder why the media is silent on this ?
So let me see. If you perform abysmally poorly, the government will bail you out. If you perform well, the government will punish you with higher taxes. Yes, I think I’ve got the message now, thanks for clarifying it.
Over on huffpo, they are in full denial and freakout mode. Some are even talking civil war.
Here comes the politicaly correct liberal army!!! only biodegradeable bullets and tanks!!!
Hell why bother paying your mortgage, here comes uncle
suckersam to bail you out!!!Liberalism: the politic of peace and tolerance, just like Al Queda.
One thing many of you seemed to have missed from the article was the statement regarding “the socialization of risk and the privitization of profit.”
Fannie and Freddie are failing for many reasons. Stupid people borrowed money. Greedy bankers lent them the money. ETC.
But what most folks seem to miss is the fact these operations were run to make money for private shareholders and the CEO’s. Any risk of mortgage default by borrowers would eventually be covered by the Feds.
Wish I could run a business that lets me keep the profit if I do well and have the government pay off my debts if I fail.
Obummer says he may not eliminate all the Bush tax cuts after all, because of the slow economy– all but admitting that the cuts are good for the economy. Further proof that the Dems tax not to increase revenue (CUTS increase revenue when you’re on the right side of the Laffer curve), but to punish the wealthy. Sorry, off topic…
So let me get this straight. You’re looking to buy houses implying you’re doing it for an investment, i.e. to make a profit – but you’re upset if the bank makes some money off the deal too? They probably won’t – I doubt if many of these will bring enough to cover the original loans.
Dean Baker, who was quoted in the “gaffe”story writes
He then proceeds to argue against this private sector involvement, blaming their private sector like aspects for the failings of these behemoths.
This tool is talking out of both sides of his mouth.
I say that if no one wants to buy loans, then the banks that write the loans will have to start paying attention to whom they give their money.
His office # is: 202-293-5380 x114
Oh Lord could it be? Just for me? Correction $20 huffpoers:
270 Winchester does not come in biodegradable
30/06 does not come in biodegradable
7.62X39 does not come in biodegradable
223 Remington does not come in biodegradable
9mm, 45 colt and 45 acp do not come in biodegradable
Oh what a beautiful Morning
Oh what a Beautiful Day
One of the funniest shows ever from “WKRP”.
Anyone see Biden’s gaffe today. Says Palen doesn’t support disabled kids b/c she opposes stem cell research. This calls to mind Kerry/Edwards reminding the American People of Cheney’s daughter during the debates. The dems make these odd public statements.
Gee why don’t the Chinese bail out Freddie/Fanny? Oh I see, the game is rigged for the TAXPAYER to bail out the Chinese. This is some sick shite.
I heard Herman Kane use that name this morning. I thought it was quite appropriate.
This is a big I told you so to my liberal friends. This is what we get when the free market is ignored.
The so-called “MSM” are, for the most part, stupid, ignorant, elitist, arrogant, moonbats. They want the leftist to win. At best, therefore, they should be ignored and pitied…never taken seriously! You are the new media. Publish!!!!
“Are reporters financially illiterate?”
Are you kidding me?
Most network television reporters are essentially fashion-models. Intelligence is way, way down on the list of career requirements.
Print reporters aren’t much better.
This is one of the key reasons that the blogosphere has exploded in popularity: bloggers are read almost wholly for content, and not for “teeth and hair.”
The only reporters I’ve ever met who have actually impressed me with their knowledge of a subject were financial experts, sportscasters, and meteorologists. Most of these people have real brains – but these aren’t the people who are reporting on most of the MSM’s broadcasts.
The MSM has mis-reported, spun, or under-reported every major story for the last ten years. Just in recent memory, can any of you say that ABC, NBC, CBS, CNN or even FoxNews really reported the following stories properly:
Iraq War
Hurricane Katrina (and Ray Nagin’s role)
Illegal Immigration
Barry Obama and his traveling carnival
Any Republican candidate’s platform, other than J. McCain’s
The cost of all of these bailouts, even before FNMA
Valerie Plame fiasco
The Mad-Dog former mayor of Detroit
Anybody know where John Edwards zygotes are today?
Anybody know if Jefferson has more money in the freezer?
And that’s just off the top of my head.
There’s a reason that newspaper readership is plummeting, and it’s not just because of the internet. People don’t trust the MSM. They know that it’s not only biased, but often wrong or incomplete.
Exactly.
It’s a little-known fact that the biggest reason the Roman Empire collapsed was not because of over-extension or decadence, something often thrown at various western countries, but because the Roman citizens didn’t want to join the army or even work. That’s right, they didn’t want to work. By the end, the entire city of Rome was living on handouts, and the Empire’s only purpose was to feed that massive welfare city. The entire city of rome. Virtually nobody had a job there. An entire empire to support one city. If it hadn’t been for that massive social welfare program the Roman Empire would still be with us. Instead of was overrun by the germans, who came in seeking the riches of Rome – the free stuff they’d heard about.
Sound familiar? It should.
Maroons?
If they hadn’t been “privatized” in the first place, this wouldn’t have happened.
I wish we’d get even a shred of clarity from the GOP candidates. Here’s Palin’s statements again:
and
Now what I get from this is that because FNM and FRE have overdosed on moral hazard due to their government insurance policy, the government needs to take over. However, the left’s attacks are almost as shallow as Palin’s statement. It’s the conservative side that should be attacking her position on the issue. Her logic is inherently socialist, naive, and conflicts with everything conservatism preaches regarding government-run entities.
Firstly, at its base, the statement supports the nationalization of the mortgage market. Secondly, it conflicts with itself in saying because the GSE have become a risk to the taxpayer, they now need to be bailed out by the taxpayer. Lastly, her statement contends that a McCain-Palin administration can somehow run (our now socialized mortgage industry) “smaller and smarter and more effective”. Any conservative can see how disingenuous these statements are – government cannot run anything “smaller and smarter and more effective”.
The lure of socialism is believing that government can solve the problems of business and society. We know John McCain wholeheartedly believes this. Either Palin is being told to “sit down”, or she is just as guilty of creeping socialism as the other side of the ticket and the other side of the isle.
Our mortgage market will now run at the efficiency of the post office.
First you nationalize the mortgage business…”for the children”, of course. Once you do that, you nationalize healthcare, based on the models that are disasterous in Canada, England, and Australia, then the oil companies next, I suppose. I hope I’m gone, before I have to explain to my family that there isn’t any more money, because “Joe six pack”, down the street, gets it first. “Land of the free”…Ha! What a joke.
FOR ALL THE PARENTS; TWO CHILDREN, ONE COMES HOME AND SAYS HE JUST WAS ACCEPTED INTO HARVARD, IS THE VALEDICTORIAN OF HIS SCHOOL, AND GOT A RAISE FROM HIS BOSS BECAUSE HE IS SUCH A GOOD EMPLOYEE. THE SECOND CHILD COMES HOME AND SAYS HE IS FAILING OUT OF SCHOOL, WAS FIRED FROM HIS JOB FOR NOT SHOWING UP ON TIME, WAS ARRESTED FOR DRINKING AND DRIVING, AND HAS A DRUG PROBLEM. WHAT PARENT TAKES THE ALLOWANCE AWAY FROM CHILD #1 AND GIVES IT TO CHILD #2 TO HELP BUILD UP HIS SELF ESTEEM. WHAT SOCIETY CAN SURVIVE WHEN THAT IS THE LESSON WE TEACH THROUGH OUR GOVERNMENT ON A DAILY BASIS.
There, fixed it for you.
Because the government runs everything more efficiently, right?
Tool.
P.S. NAVYWIFE, I SAW KIRSTEN ON FOX A FEW DAYS AGO AND SHE WAS TRULY PEEVED OVER THE LIBS SLIMING OF MRS PALIN.
Glad you brought this up.
The MSM must really think these places are free, put out there by the money tree for anyone’s pleasure (any one on the left or poor who ‘needs’ it).
The ignorance surrounding this mess by the media AND many in congress is a bit scary…a bit unsettling.
I saw her as well, but having her feelings put in writing is even more significant.
Do you know you’re cap lock is on? People might think you’re yelling.
Quote from Palin on Sunday:
Please also look at the McCain/Palin WSJ editorial here
Full of pleasantries regarding how they will make the mortgage market run more efficiently with more rules regulations, oversights, and administrative bodies. The fact is you can’t package a socialist program in conservative wrapping paper and expect anything more than socialism (or corporatism – ie the medicare drug plan).
not any more, thanks
CHEAPSEAT, what? I can’t hear you!!!
Being a bit disingenuous there, aren’t you, Math Man? What does privatization have to do with anything? Or are you fearmongering again?
Have you heard of the term, “semi-privatized?” This means that although a company may meet the requirements of privatization, there is a federal oversight, meaning that when bad economic times hit these two behemoths that the federal government will socialize the failure and bail them out.
Really, are you this bad at economics or what? You really do stick to what you don’t know, don’t you?
Fixed.
ECS
That statement is so ignorant I’m not going to wast my time with you.
ArizonaNeanderthal,
and……. a target rich environment!
ECS:
Thanks for the fix. Though, when you look at certain groups of people in this country, aren’t they also “underserving” our country by being welfare cheats or deadbeats?
I’m just kidding (partially). Yuck… I guess I’m not wired for spellcheck today.
the Liberals step up to the plate….SWING and a miss…too bad. Looks like they are having a really bad season, and the hopes of going all the way are beginning to fade. Will it go into extra innings? Who knows, but by the looks at the way they are playing, they will be lucky to get through this wiithout tossing in the towel. It appears that the coach for the Liberals is actually praying for a rain-out. unfortunately, since they don’t believe in God or prayer, he seems to be fumbling wit how to go about it. Last we saw, he was kneeling down, facing the East. Someone should tell him the 5th ining has already been played and it is too late anyway.
Now taking donations in order to purchase a new laptop where the keyboard actually works. Anyone? Bueller?
Frye? Frye?
This is probably somewhat off topic, however, something that has puzzled me for some time. I know this may seem picky, but the use of the word maroon. Merriam-Webster has this definition:
Main Entry: 1ma·roon
Pronunciation: \mə-ˈrün\
Function: noun
Etymology: probably from French maron, marron feral, fugitive, modification of American Spanish cimarrón wild, savage
Date: 1666
1capitalized : a fugitive black slave of the West Indies and Guiana in the 17th and 18th centuries; also : a descendant of such a slave
2: a person who is marooned
Therefore, isn’t the word wanted in the case of the headline at the beginning of this post really MORON?
If I am correct the headline would read:
Fannie and Freddie Are Called “Government-Sponsored Enterprises” for a reason, morons.
Help me out if I am off track here, please.
Here’s a couple of government-sponsored enterprises:
Mitsubishi
Japanese Imperial WWII fighters, bombers. Examples: the infamous “Zero” and “Sally.”
Volkswagen
Hitler’s “Folk Car”, “Bucket-Wagon”, and amphibious “Schwimmwagen.”
Topf & Söhne
Manufacturers of the ovens and other ventilation systems employed at Auschwitz.
Tupolev Design Bureau
Russian (Previously Soviet) aerospace company that built the TU-95 Bear (and variants) nuclear bomber designed to wipe the United States from the face of the planet.
Didn’t you ever watch Looney Tunes? “What a Maroon!” Was a Bugs Bunny catch phrase. I suppose saying “Moron” was a bit too offensive for a cartoon character at the time.
I believe the use of “maroon” in exchange for “moron” can be traced back to that of Moe (of Three Stooges fame), who often misused the word. The use has since entered into popular culture and is used in this way often.
Oh yeah, and bugs bunny used it too! Forgot about that!
Sort of like mixing dog excrement with vanilla ice-cream. Ice-cream is still in the mix, but you won’t want to eat it.
We’ll Protect Taxpayers
From More Bailouts
By JOHN MCCAIN and SARAH PALIN
September 9, 2008
In the first 100 days of our administration, we will look at every agency and department and expenditure of the federal government and ask this simple question: Is it serving the needs of the taxpayer? If it is not, we will reform it or shut it down, and we will spend money only on what is truly in the interest of the American people.
This is why I have been excited since McCain chose Palin as his vp. Unlike Pelosi, Palin will work for the American people and honor her promises.
I would be more excited if the wording was:
“Needs” is the foothold that collectivism uses to generate the worst kinds of evil. “Needs” can not be quantified and is used to justify welfare, income redistribution, etc…
Thanks. for the assist on the word maroon. I haven’t watched Bugs Bunny in decades. However, when that was mentioned it did ignite old memories. From now on when I read the word maroon, I will be hearng the voice of Ol’ Bugs.
Blame LBJ.
Origins of Fannie Mae and Freddie Mac
In this case, lgm is correct to put “privatized” in scare quotes. When the risk is still born by the taxpayer, they aren’t private at all. But note that Freddie Mac was created as a GSE.
Man, take a breath! There is so much hyperventilation in this thread that needs to be reviewed…
For years, I worked in the mortgage industry, so long ago that it was Fannie that put stops on bad lending practice. Freddie even more so. The real problem with them stems from pressure from congress to make bad loans to minorities and low-income people that did not qualify for such loans. The realtor lobby added to that pressure. Realtors want loans, consequences be damned. A foreclosure just means another sale down the road.
Fannie and Freddie aided your neighborhood bank by taking loans off the books. A bank can lend only what it holds in deposits. If they lend $100,000 for thirty years, they need to wait 30 years to lend that $100k to someone else or hope they pull in $100k in deposits. Fannie and Freddie, in buying these loans, allowed banks to re-lend that money to someone else in a matter of days, not years.
Since homes were thought to be very good collateral, loan payments were pretty well assured. That made them good investments. Fannie and Freddie “securitized” these loans, meaning turned them into investments, and sold them to the public. By selling them to the public, they got to lend the money over again. Look in your balanced mutual fund. Look in your retirement plan at work. Look in your school districts investment accounts. Fannie and Freddie are in all of them. In fact, in most states, government entities are permitted to invest only in government bonds and Freddie and Fannie. Without this process, only the rich could afford homes since they would need cash to do so or pay very high interest rates on long term loans.
The lending standards were strong for decades, until congress stuck their noses in. I don’t understand why they privatized these two, but their function is essential to the U.S. housing market. They should get back to their conservative practices.
I can easily blame San Francisco for this problem. Up until recently, the asking price for a house in SF was the opening bid in an auction! Prices went through the roof, banks accommodated the madness. Fannie and Freddie made special high loan limits for California. The whole rest of the country (I mean realtors all over the rest of the country) clamored to get those higher loan limits and the things spiraled out of control. Wages didn’t rise as fast as home prices and people found ways to cut corners on their honesty, buying houses they couldn’t afford because everyone wanted their own McMansion.
So, Fannie and Freddie aided this dishonesty and greed but their basic mission is a good one. They just have to go back to conservative practices.
Fee – Believe me the banks are loosing money here in the Bay Area. Yes, the banks are taking bids on foreclosed property, but the received bids are in no way covering their losses. The highest bid only mitigates their loss. Hang tough. Decide how much you want to pay per square foot. A real good deal would be $125.00 per square foot. There are some in Suisun City at that price, but the homes usually need a lot of work at that price.
Actually, I think most parents would put their resources to helping the child who needs their help.
Fortunately, and I can’t stress this enough, the federal government is not a parent. Really.
Whaaaaa….? Where’s the logic in that?
You’re only taxed more on the marginal income beyond that in your current bracket, not on all your income.
If I had to pay an additional, say, $5K in order boost my take-home income by $20K to spend on myself and support my family, I would go for it. This assumes the job is otherwise attractive, for all the usual reasons).
Ask yourself: do millionaires turn down an extra million because of the extra tax bite?
Further, assuming that all your current and “extra” taxes go for “fraud, waste and abuse” isn’t reasonable. Who pays for our soldiers, fer instance?