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Home Foreclosures

Fannie Mae and Freddie Mac Salvation

Chuck Marunde by Chuck Marunde
September 17, 2008
Reading Time: 2 mins read
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foreclosuresThe Federal Government’s bailout of Fannie Mae and Freddie Mac are extraordinary measures, but were critical to avoid a systemic meltdown.   The depth and breadth of the mortgage and foreclosure crisis has implications far beyond the devastating consequences for individual families (as if that wasn’t bad enough).

Behind the curtains of the public stage of the mortgage business are layers of businesses, organizations, agencies, and security backed markets.   Had the government not stepped in with it’s money printing capability to save Freddie Mac and Fannie Mae, we very likely would have seen a serious nationwide economic depression, not a recession.

While I am not a strong advocate of government intervention in private enterprise, I do applaud this move, because it averted a depression, but there is a huge downside for us in the long run, and it is so significant, it may have been wiser for the feds to stay out of this.   I’ll express the downside with these rhetorical questions, “When has the federal government ever managed an organization like a finely tuned violin without breaking the strings?”   “Do you think the feds will ever give Fannie Mae and Freddie Mac back to private industry?”   Think again.     This may be one of the most powerful long-term moves toward socialization of our economy I have seen in my lifetime.   Having the feds operate these two organizations that are responsible for over 70% of our entire mortgage industry is very dangerous.   The implications reach far beyond the horizon of our visibility right now.

By the way, trading stocks on either of these two companies, or worse yet, buying options (calls) hoping to catch a big ride back up in the next few months or year, would be bad positions.

We will get through this foreclosure crisis, but it will take time, and taxpayers will ultimately carry the burden.

Last Updated on September 17, 2008 by Chuck Marunde

Tags: ForeclosuresSequim
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Chuck Marunde

Chuck Marunde

Chuck grew up in remote Alaska, graduated from the University of Alaska with a degree in Economics and Teacher Certification, and after teaching high school for two years, went to law school at Gonzaga University in Spokane, Washington. He served four years as a Captain and JAG in the USAF at Nellis AFB in Las Vegas. After practicing real estate law for 20 years in Washington, Chuck founded iRealty Virtual Brokers covering Sequim and the beautiful Olympic Peninsula. He is the author of 2,200 real estate articles and 60 books, and he produced over 100 real estate videos. Chuck combined his love for real estate and technology to create a massive Internet presence, and his articles and videos and books have been viewed by millions. Chuck is a well recognized real estate expert and his counsel is sought by other brokers and practicing attorneys around the country. Buyers from New York to Hawaii and from Florida to Alaska seek him out to retain him as their Sequim Buyer's Agent. 

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Comments 4

  1. Government Tax Foreclosure Properties In Florida says:
    16 years ago

    Hi, Of all the stuff I’ve seen on government tax foreclosure properties in florida your post on e Mae and Freddie Mac Salvation is the best

    Reply
  2. Delaware Real Estate Companies says:
    16 years ago

    Your article on Fannie Mae and Freddie Mac was really interesting Chuck. I think you’re right on track with your analysis, and I would add that you are one of the very few professionals on the Internet who are writing good content on real estate issues. Looking forward to more of your articles.

    Reply
  3. Adverse Bad Credit Loan Mortgage says:
    16 years ago

    You really poses much expertise on e Mae and Freddie Mac Salvation. I really enjoyed going through your posting. I really appreciate it….Equity Home Loan Rate Refinance

    Reply
  4. Bad Credit Mortgage Loan Wisconsin says:
    16 years ago

    I have been searching on the net for bad credit mortgage loan wisconsin and end up visiting your site. I really like the posts here, especially this one regarding e Mae and Freddie Mac Salvation. I already bookmarked your site and sure visit again.

    Reply

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