Mixed Emotions on Fannie, Freddie Plan

I want to hear direct answers from our candidates about this debacle, not sing-songy feel good rhetoric. First we have Enron et al., and now this. These white-collar crimes have gone unpunished far too long. I suppose the collapse of the American economy will be the only thing that stops the greed and immoral abuse of power. ENOUGH. The American people can barely take anymore of this.

I agree with Average Joe who told Neal Cavuto that he budgets to ensure that he is able to pay his mortage, pay his bills, and save for his children's college educations. I might like to live in a more expensive house or drive a fancier car, but I can't afford to, so I don't. Perhaps my husband and I should just take out loans for these things anyway. If we decide that we can no longer pay our bills, someone could pay them for us...

I saw that segment with Judge Neopalantino on Scoreboard last night. I wouldn't mind seeing more of the constutional legel aspect of this explored. Could GSE's be percieved as unconstional? That would be something to examine ethically and legally. Becoues of the consequences of what congress did.

Judge Napolitano suggests that this takeover may be illegal. I would like to see you do a segment on whether this violates the Constitution.

I am employed as a staircase carpenter for new homes. I watched people line up and sleep over night to buy houses in the 600,00 to 1,000,000 range in this last boom in California. WE in the industry ate lunch and joked about what these people did for a living to qualify for a loan for this amount. We also had co-workers that were ilegal that bought houses one bought two. We in the industry saw this coming however we did not think would be this bad. I even called my congressman to alert them to what was going to happen. I am a carpenter you guys are in charge maybe I should run for office. I have a better solution to bailing these college grads out. Why not have goverment sponsered loans at a low intrest rate maybe 3.0% for sixty years. And this is a one time deal you sell its gone. You re finance its gone. And only people how purchased or refied after 1993 can do this. Kind of like prop 13 in California. And only one home no rentals will be allowed. If you are caught cheating its automatic jail time. THisbail out is only for stock holders and CEO's. Both of which should pay a price. Bush made it harder for individuals to file BK and corporations like enron and GM and fannie are taken care of. Builders are the big winners of this last boom they even created there own mortgage firms. Talk about the fox in the hen house.

Neil, all the execs involved should be fired and all the bonus's received in the last 4 years should be forfeited. They should go back the requirement that the Seller/Servicers buy stock in proportion to the amount of dollar volume of loans they sell to Fannie May or Freddie Mac. They new they were buying bad loans, but since doing so increased their bonus they bought them anyway. They did the same thing in 70s and 80s. If they would only enforce the res they have on the books, we would not have these problems. Phil Corvinus

Congress is largely to blame for this monster it created (while Greenspan and other raised early warnings). I am sure if the Democrats and Republicans in Congress wanted to do some investigation into their own culpability for this fiasco(which I am sure will not happen), then we would surely find a trail of lobbying funds from Fannie and Freddie that greased the skids over the years. Now we will get the fall out, a government intervention into the private housing market (we all know what a great job government does when it intrudes into the private marketplace, don't we) which will make this bad situation even worse. Where is the taxpayer outrage? I for one am outraged.

Alexis I followed this story all weekend. I don't know what to make of it myself. Has the Treasury made a bad move in the market in regards to GSE's? Or has the goverment sent the wrong message to the market place. Stocks rallied over this but what are the consequences in the long run for shareholders and taxpayers. What's Freddie and Fannie doing in the mutual fund marketplace. Could they be involved with hedge funds too? As for this story honestly it needs closer scrutiny. Especially when these banks baked the books. So mamy peices of this puzzle need to be look at. Both congress and the Banks management. Why not have the central banks restructed and reorganize these GSEs. It would be start but the consequences too need to be examine too.

I heard that those in charge at Fannie Mae and Freddie Mac made big donations to the Democratic Party. Is there going to be any accountability, first for their poor leadership decisions and secondly for obvious bias and use of public money? Will anyone be fired? Remember Enron?