Home › Forums › Financial Markets/Economics › Dallas Fed Admits to Manipulating housing market
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CA renter.
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December 26, 2010 at 8:54 PM #645965December 26, 2010 at 9:25 PM #644858
Diego Mamani
ParticipantThe Fed knows that everybody knows that the housing market is being manipulated. A better title for this post would be:
Dallas Fed Admits that Manipulating Housing Market is Useless
I find it disgusting and 100% unamerican, that the mortgage market today is essentially a government operation. Even though I have approached “private” banks to finance the purchase of my residence and investment properties, these institutions have to follow Fannie and Freddie rules to decide whether to approve my loan. Why? Because the FEDERAL GOVERNMENT (i.e., us taxpayers) purchase mortgages from the banks at what essentially amounts to non-market interest rates.
I have friends who pretty much risked their lifes to escape a communist regime more than 20 years ago. They find it ironic that the economy of the great U.S. of A. is slowly becoming the bureaucratic, government-run pseudo-economy they run away from.
December 26, 2010 at 9:25 PM #644929ParticipantThe Fed knows that everybody knows that the housing market is being manipulated. A better title for this post would be:
Dallas Fed Admits that Manipulating Housing Market is Useless
I find it disgusting and 100% unamerican, that the mortgage market today is essentially a government operation. Even though I have approached “private” banks to finance the purchase of my residence and investment properties, these institutions have to follow Fannie and Freddie rules to decide whether to approve my loan. Why? Because the FEDERAL GOVERNMENT (i.e., us taxpayers) purchase mortgages from the banks at what essentially amounts to non-market interest rates.
I have friends who pretty much risked their lifes to escape a communist regime more than 20 years ago. They find it ironic that the economy of the great U.S. of A. is slowly becoming the bureaucratic, government-run pseudo-economy they run away from.
December 26, 2010 at 9:25 PM #645509ParticipantThe Fed knows that everybody knows that the housing market is being manipulated. A better title for this post would be:
Dallas Fed Admits that Manipulating Housing Market is Useless
I find it disgusting and 100% unamerican, that the mortgage market today is essentially a government operation. Even though I have approached “private” banks to finance the purchase of my residence and investment properties, these institutions have to follow Fannie and Freddie rules to decide whether to approve my loan. Why? Because the FEDERAL GOVERNMENT (i.e., us taxpayers) purchase mortgages from the banks at what essentially amounts to non-market interest rates.
I have friends who pretty much risked their lifes to escape a communist regime more than 20 years ago. They find it ironic that the economy of the great U.S. of A. is slowly becoming the bureaucratic, government-run pseudo-economy they run away from.
December 26, 2010 at 9:25 PM #645646ParticipantThe Fed knows that everybody knows that the housing market is being manipulated. A better title for this post would be:
Dallas Fed Admits that Manipulating Housing Market is Useless
I find it disgusting and 100% unamerican, that the mortgage market today is essentially a government operation. Even though I have approached “private” banks to finance the purchase of my residence and investment properties, these institutions have to follow Fannie and Freddie rules to decide whether to approve my loan. Why? Because the FEDERAL GOVERNMENT (i.e., us taxpayers) purchase mortgages from the banks at what essentially amounts to non-market interest rates.
I have friends who pretty much risked their lifes to escape a communist regime more than 20 years ago. They find it ironic that the economy of the great U.S. of A. is slowly becoming the bureaucratic, government-run pseudo-economy they run away from.
December 26, 2010 at 9:25 PM #645970ParticipantThe Fed knows that everybody knows that the housing market is being manipulated. A better title for this post would be:
Dallas Fed Admits that Manipulating Housing Market is Useless
I find it disgusting and 100% unamerican, that the mortgage market today is essentially a government operation. Even though I have approached “private” banks to finance the purchase of my residence and investment properties, these institutions have to follow Fannie and Freddie rules to decide whether to approve my loan. Why? Because the FEDERAL GOVERNMENT (i.e., us taxpayers) purchase mortgages from the banks at what essentially amounts to non-market interest rates.
I have friends who pretty much risked their lifes to escape a communist regime more than 20 years ago. They find it ironic that the economy of the great U.S. of A. is slowly becoming the bureaucratic, government-run pseudo-economy they run away from.
December 26, 2010 at 9:49 PM #644863CA renter
ParticipantJust noticed that Danielle DiMartino was one of the authors of that article.
Before she began working for the Dallas Fed, and back when all the folks in the financial news were cheering on the rising credit/housing bubble, she was regularly writing articles about the dangers of the housing bubble, and was one of the few people in the media whom we bears could rely on to tell the truth. I believe (but have no proof) that she was a reader and possible poster on some of the original housing bubble sites.
When she wrote that she was going to work for the Dallas Fed, we (original bears) grew hopeful that “one of ours” might be able to affect things from the inside.
She seemed to disappear for awhile, so it’s good to see she’s still doing what she does best — telling the truth, and getting the word out about the dangers of our bubble economy.
December 26, 2010 at 9:49 PM #644934ParticipantJust noticed that Danielle DiMartino was one of the authors of that article.
Before she began working for the Dallas Fed, and back when all the folks in the financial news were cheering on the rising credit/housing bubble, she was regularly writing articles about the dangers of the housing bubble, and was one of the few people in the media whom we bears could rely on to tell the truth. I believe (but have no proof) that she was a reader and possible poster on some of the original housing bubble sites.
When she wrote that she was going to work for the Dallas Fed, we (original bears) grew hopeful that “one of ours” might be able to affect things from the inside.
She seemed to disappear for awhile, so it’s good to see she’s still doing what she does best — telling the truth, and getting the word out about the dangers of our bubble economy.
December 26, 2010 at 9:49 PM #645514ParticipantJust noticed that Danielle DiMartino was one of the authors of that article.
Before she began working for the Dallas Fed, and back when all the folks in the financial news were cheering on the rising credit/housing bubble, she was regularly writing articles about the dangers of the housing bubble, and was one of the few people in the media whom we bears could rely on to tell the truth. I believe (but have no proof) that she was a reader and possible poster on some of the original housing bubble sites.
When she wrote that she was going to work for the Dallas Fed, we (original bears) grew hopeful that “one of ours” might be able to affect things from the inside.
She seemed to disappear for awhile, so it’s good to see she’s still doing what she does best — telling the truth, and getting the word out about the dangers of our bubble economy.
December 26, 2010 at 9:49 PM #645652ParticipantJust noticed that Danielle DiMartino was one of the authors of that article.
Before she began working for the Dallas Fed, and back when all the folks in the financial news were cheering on the rising credit/housing bubble, she was regularly writing articles about the dangers of the housing bubble, and was one of the few people in the media whom we bears could rely on to tell the truth. I believe (but have no proof) that she was a reader and possible poster on some of the original housing bubble sites.
When she wrote that she was going to work for the Dallas Fed, we (original bears) grew hopeful that “one of ours” might be able to affect things from the inside.
She seemed to disappear for awhile, so it’s good to see she’s still doing what she does best — telling the truth, and getting the word out about the dangers of our bubble economy.
December 26, 2010 at 9:49 PM #645975ParticipantJust noticed that Danielle DiMartino was one of the authors of that article.
Before she began working for the Dallas Fed, and back when all the folks in the financial news were cheering on the rising credit/housing bubble, she was regularly writing articles about the dangers of the housing bubble, and was one of the few people in the media whom we bears could rely on to tell the truth. I believe (but have no proof) that she was a reader and possible poster on some of the original housing bubble sites.
When she wrote that she was going to work for the Dallas Fed, we (original bears) grew hopeful that “one of ours” might be able to affect things from the inside.
She seemed to disappear for awhile, so it’s good to see she’s still doing what she does best — telling the truth, and getting the word out about the dangers of our bubble economy.
December 27, 2010 at 3:31 AM #644878ParticipantSorry, just one more post, quoting Matt Taibbi — a guy who “gets it”:
————–“Matt Taibbi’s unsparing and authoritative reporting on the financial crisis has produced a series of memorable Rolling Stone features. He showed us how Goldman Sachs, that “great vampire squid”, played a central role in creating not only the housing bubble but four other big speculative booms that filled its coffers while wrecking the American economy. He explained how Wall Street banks cooked up schemes that helped decimate municipal budgets and cost countless jobs, and how Wall Street lobbying led to a financial reform bill that won’t prevent another meltdown. Taibbi builds on that eye-opening work in his new book, Griftopia: Bubble Machines, Vampire Squids, and the Long Con That is Breaking America, due out from Spiegel & Grau on November 2. In this exclusive excerpt, he describes how our cash-strapped country is auctioning off its highways, ports and even parking meters at fire sale prices — and finding eager buyers in the unregulated sovereign wealth funds of oil-rich Middle Eastern countries.
December 27, 2010 at 3:31 AM #644949ParticipantSorry, just one more post, quoting Matt Taibbi — a guy who “gets it”:
————–“Matt Taibbi’s unsparing and authoritative reporting on the financial crisis has produced a series of memorable Rolling Stone features. He showed us how Goldman Sachs, that “great vampire squid”, played a central role in creating not only the housing bubble but four other big speculative booms that filled its coffers while wrecking the American economy. He explained how Wall Street banks cooked up schemes that helped decimate municipal budgets and cost countless jobs, and how Wall Street lobbying led to a financial reform bill that won’t prevent another meltdown. Taibbi builds on that eye-opening work in his new book, Griftopia: Bubble Machines, Vampire Squids, and the Long Con That is Breaking America, due out from Spiegel & Grau on November 2. In this exclusive excerpt, he describes how our cash-strapped country is auctioning off its highways, ports and even parking meters at fire sale prices — and finding eager buyers in the unregulated sovereign wealth funds of oil-rich Middle Eastern countries.
December 27, 2010 at 3:31 AM #645529ParticipantSorry, just one more post, quoting Matt Taibbi — a guy who “gets it”:
————–“Matt Taibbi’s unsparing and authoritative reporting on the financial crisis has produced a series of memorable Rolling Stone features. He showed us how Goldman Sachs, that “great vampire squid”, played a central role in creating not only the housing bubble but four other big speculative booms that filled its coffers while wrecking the American economy. He explained how Wall Street banks cooked up schemes that helped decimate municipal budgets and cost countless jobs, and how Wall Street lobbying led to a financial reform bill that won’t prevent another meltdown. Taibbi builds on that eye-opening work in his new book, Griftopia: Bubble Machines, Vampire Squids, and the Long Con That is Breaking America, due out from Spiegel & Grau on November 2. In this exclusive excerpt, he describes how our cash-strapped country is auctioning off its highways, ports and even parking meters at fire sale prices — and finding eager buyers in the unregulated sovereign wealth funds of oil-rich Middle Eastern countries.
December 27, 2010 at 3:31 AM #645666ParticipantSorry, just one more post, quoting Matt Taibbi — a guy who “gets it”:
————–“Matt Taibbi’s unsparing and authoritative reporting on the financial crisis has produced a series of memorable Rolling Stone features. He showed us how Goldman Sachs, that “great vampire squid”, played a central role in creating not only the housing bubble but four other big speculative booms that filled its coffers while wrecking the American economy. He explained how Wall Street banks cooked up schemes that helped decimate municipal budgets and cost countless jobs, and how Wall Street lobbying led to a financial reform bill that won’t prevent another meltdown. Taibbi builds on that eye-opening work in his new book, Griftopia: Bubble Machines, Vampire Squids, and the Long Con That is Breaking America, due out from Spiegel & Grau on November 2. In this exclusive excerpt, he describes how our cash-strapped country is auctioning off its highways, ports and even parking meters at fire sale prices — and finding eager buyers in the unregulated sovereign wealth funds of oil-rich Middle Eastern countries.
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