What do you think of Congress taking over

[wolfied]

Freddie Mac, And Fanny Mae? Fannie Mae and Freddie Mac are the only two Fortune 500 companies that are not required to inform the public about any financial difficulties that they may be having. In the event that there was some sort of financial collapse within either of these companies, U.S. taxpayers could be held responsible for hundreds of billions of dollars in outstanding debts. A recent investigation by the Justice Department and the SEC into the accounting practices at Freddie Mac revealed accounting errors in the amount of 4.5 to 4.7 billion dollars and resulted in the termination of three of the company's top executives. Ongoing investigations by Congress, particular the House Finance Services subcommittee that oversees the activity of GSEs, will determine the future role of Fannie Mae and Freddie Mac and the secondary mortgage market that they dominate.

[oldmarine08]

It's a mistake, you live by the sword you should die by the sword!

[delphi]

I never thought they should be bailed out. And now that it has been made the taxpayers burden. Even more so.

[labowu]

Excellent points, thanks for the details. All I know is that state control should always be held to a minimum. This is a slippery slope and I for one would like to have seen the government dictate the terms of their exit strategy from this debacle.

[Tough Guy]

Oh that'll work. Not.

[I Speak in Tongues!!!]

It's more corporate welfare. We need to let these companies fail and stop other big companies from behaving like this because they too are "too big to fail".

[Kiran C]

Congress will not talking over Fanny and Freddie. They may investigate.