Trump says he's seriously considering taking Fannie Mae and Freddie Mac public
Trump says he's seriously considering taking Fannie Mae and Freddie Mac public
www.msn.com
MSN
16 comments
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I'm not reading, but I'm curious to know what taking these two people public means
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They’re major mortgage lenders. This would probably cause Great Recession 2, housing boogaloo
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Maybe millennials could finally afford a house in the ashes
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You won’t even want one at that point. You’ll want to leave the country.
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I want to leave the country now.
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It's kind of adorable to think that the economic fuckery is going to be something on the scale of any kind of recession.
No, the economic fuckery that's already happened is likely to cause another depression.
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We are already entering The Greatest Depression, this would just speed things along a bit.
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It would mean they would get rid of fixed rate mortgages - your repayment would vary with the fed reserve rate.
"Public" doesn't mean state-owned, it means issuing public shares, currently its a private company.
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So they are companies, not people, I recon.
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Taking them back to pre-2008 public holdings. I'm not educated enough to know if this is a good idea.
FNMA was public for my whole life, since like 1969. FHLMC was public since like 1990 and people then thought it was a bad, bad idea but I guess it worked out OK until the whole crash. In 2008 they were both placed under the control of the Federal Gov't. That seemed to work out OK for FNMA and FHLMC but I'm not sure how it affected everyone else.
I really would suggest reading, it's helpful.
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16 comments