Freddie & Fannie are big time in the Home Mortgage industry,somewhere near 6 trillion dollars, what would be the result if they were allowed to fall? your country would go with it.This is designed to stabilise the housing industry and stop all those signs that have appeared, "Bank owned, For sale".Should have been done earlier. Its not a grab because they will be freed when times get better.It's more of Financial backing. I can't believe some of the posts on here, bring yourselves upto speed and read the reports on the Federal National Mortgage Assn. and Federal Home Mortgage Corp. They were both Govt. initiatives.. Fannie Mae is older than the majority of you. Best and possibly the only good decision GWB has made.
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Today's Featured Article - Dad's Old Silver King and Joe Capalco - by Woody E. Diehl. My father, Charles Diehl, grew up in the Elsworth, Ohio area during the Depression on a small working farm. I never saw the place, nor was I around during his early years. What I know about those hard times comes from listening to Dad and his old pals reminisce from time to time. One of the old timers that would sit with Dad and chew the fat about the 'good ole days' was Joe Capalco. Joe wasn't like most of my Dad's friends. He rarely worked that we knew of. Always had plenty of time
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