Sort of:I agree, although I think the federal government does a better job than people say. I also think that much of the deregulation pushed by Newt Gingrinch lead directly to ENRON and other less-publicized debacles.

Would you have felt better had I used the word "both" instead of "all" in that sentence?

__________________
1982 300SD " Wotan" ..On the road as of Jan 8, 2007 with Historic Tags

Wouldn't have made a difference. What you said definitely sounds like all regulation is bad because it lowers our standard of living. If that's not what you meant you need to learn to express yourself better.

__________________
2004 VW Jetta TDI (manual)

Past MB's: '96 E300D, '83 240D, '82 300D, '87 300D, '87 420SEL

Not really. It would still imply that regulation and bureaucracy always lower the standard of living, which is clearly incorrect, IMHO.

Does anyone think that its not wise to have 2 companies holding 1/2 of the RE mortgages that amounts to 1/2 of our yearly GDP? Does the old saying don't keep all your eggs in one basket mean anything? Warren Buffett say that company's get too big to run. Does anyone remember the golden parachute Freddie Mac gave to the last CEO that bungled the books?

It's tough to compete with the government. So maybe the gov should set-up 15-20 independent companies to compete against each other. Hey, there's a thought.

Imagine how much better it would be then.

Or could there possibly be another model not involving a freaking quasi-governmental entity?

Capitalism got Fannie May/Freddie Mac in this position, not government.




It seems McCain is all for bailing them out, “Those institutions, Fannie and Freddie, have been responsible for millions of Americans to be able to own their own homes, and they will not fail, we will not allow them to fail,” Mr. McCain said during a stop at the Senate Coney Island Restaurant in Livonia, Mich. (huffingtonpost.com)

__________________
1984 300TD

I'd like to get my hands on some mortgage terms so outrageous, that the government would be forced to seize the land from my creditors and grant it to me outright. And on a rather large charter as well.

__________________
-Marty

1986 300E 220,000 miles+ transmission impossible
(Now waiting under a bridge in order to become one)

Reading your M103 duty cycle:
http://www.peachparts.com/shopforum/831799-post13.html
http://www.peachparts.com/shopforum/831807-post14.html

What is Fannies origin?

Here's something I wrote the other day

Regulate, Regulate, Regulate

Watching the Senate hearings today, all I heard was to create regulations to prevent the mortgage meltdown from occurring again. When have government regulations really helped a problem?
Government needs to look at the simple solution, the free market solution.
Mortgage brokers (include the investment houses that package and resell the mortgages in this too), get their fees up front. Once the paperwork is signed they get their money and are off the hook. They don’t care about the borrower’s ability to pay; they got their money and are out of the picture.
Solution, on any mortgage sold to Fannie or Freddie they get 30 or 50 percent upfront, and the remainder over some period of the loan, even have a way to deduct from payouts when a mortgage they wrote (or packaged) goes bad. I’m not going to work out the details here, but put THEIR interests along with the homeowner AND the people buying the mortgage.
Processors may complain about the overhead, but it will probably be no worse than complying with the added regulations.
Don’t regulate, use a free market solution that creates its own solution, and effectively self policies an industry.

__________________
KLK, MCSE

1990 500SL

I was always taught to respect my elders.
I don't have to respect too many people anymore.

Capitalism is the essence of tough love.
Private companies make loans based on certain criteria. People complain to the government that they cannot qualify for said loan. Uncle steps in and makes the loans available. People default on the loans becasue they couldn't pay.
Government interference in free markets really helps!

Companies who make bad loans deserve to fail. Someone will buy up the contracts; life will go on.

__________________
1982 300SD " Wotan" ..On the road as of Jan 8, 2007 with Historic Tags

.

The liberals are gonna get you.

Careful there is a liberal program sneaking up on you right now !!

O my, what is it, those horrible liberal programs, aaauuughh !!!

Highways, schools, police, military, va hospitals, social security, unemployment.

They are gonna get you, watch out..... !!!!

...

This had nothing to do with greedy corporate pigs.

They pander to the idiots with cries of, abortion, gay marriage, mexicans.

And you guys fall in line to give them your money.

Are you ever gonna learn ?

How broke do you have to be before you figure it out ?


RichC

.

__________________

When the power of love overcomes the love of power the world will know peace.
Jimi Hendrix

McCain never saw a a government program he wouldn't pour money into. The guy is no better than any other Demopublican.

The government should stick to regulating and let private enterprise run the markets within the regulations. To have the gov both make the rules and establish corporations creates a conflict of interest in law.

To be fair, FM&FM were privatized in the late 60's, but I agree with you. The bigger problem is government never ceding. In the Great Depression, they were needed. Once it was over, they should've been privatized and completely cut loose from the government. But, much like Kennedy's attempts to abolish the FED, once you give them something, they never let it go.

__________________
1984 300TD

.

Why don't we end social security about a day or so before your eligible.



RichC


.

__________________

When the power of love overcomes the love of power the world will know peace.
Jimi Hendrix