Usually the Fed’s can’t agree on much, but it appears that they all think it’s a good idea to use Fannie and Freddie profits for roads and transportation. Really?
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We should care about congress spending GSE funds because once they taste that gravy, they're not going to let them off conservationship.
As much as I hate to admit it, I actually think this is a good idea. I sell houses in a rural area that is frequently shut down every time it rains, because the roads haven’t been touched since the first ox-carts settled here in 1700. OK, I exaggerate, slightly.
Look at the bright side… Once they assign the revenue stream from Fannie & Freddie to roads… Congress will move heaven and earth to keep the money flowing… I see another round of easy money and another housing bubble in our future…
Yeah, agree with Edgar. The only part about them using money is not necessarily what they spend it on, but the fact that once they do spend it, they'll figure out that this is a cash cow baby! Raise the G-Fee, tax the people buying homes so we can spend it on stupid stuff. I'd support them paying down the deficit with it…how bout that???
Hey guys, I have no problem with this. And I don’t like NAR telling me it’s wrong. Housing, transportation…they go hand in hand. Paricularly if the money can contribute toward new transportation systems between communities. This country needs more interconnection between cities, communities, rural to urban, etc. And, hey, while we are at it, let’s throw some of that money to the schools in the most dire need of infrastructure development, those schools who don’t have a legitimate library, help teachers who otherwise have to buy materials for their classrooms-those schools, you know the ones? Or maybe you don’t, but there are a whole lot of them out there in the urban communities. I completely support this. Why? Better run and better equipped schools with teachers who feel supported, make for better communities and higher home values. Better roads and more efficient transporation make for beter home values. Let me be the minority view, I think it is a legitimate option and we need to get creative and find more ways to improve schools and transporation which improves all neighborhoods, both urban and rural.
You guys the best .any thing you say is true. Thanks for say and try to free fannie and Freddie
Harry Reid is, unfortunately, one of my (Nevada's) Senators. His reply when I protested the use of G-Fees for roads and transportation was that we are driving less and using more fuel efficient cars. Hey, fool, wasn't that what you preached to save the planet from Global Warming (another HOAX)? They'll get the money one way or the other. And writing to them gets you nowhere. They are the Ruling Class, and we are the Country Class. I say, term limits for all politicians and bureaucrats. No hefty pensions either. Save your money like the rest of us.
Good News… Fannie and Freddie are here to stay! Have to admit that if the Government is backing the loans in the name of tax payers I don’t mind some of the profits going to public projects… as long as it’s not a bridge to nowhere! Oh and Oregon gets its share of the pie. 🙂
I shared Friday’s show with a whole lotta people and let me tell you that what Elizabeth Warren is doing got more of my Democratic friends all upset than my Republican friends. Those under 30 years of age who have iphones permanently attached to their hands went bullistic. Several of them called and left very nasty messages for Elizabeth so I am sure you all will probably be getting a phone call….Sorry guys….
Perhaps the question relating housing funds to roads would be, "Do people use roads to get to their houses or have things delivered to their houses, and if those roads fell into disrepair and/or no longer existed, would those houses still be worth as much?"
Are you serious?: You actually believe Global Warming is a "hoax"?!
It’s wrong on principle. They need to do what’s right by the shareholders and our laws. I remember voting on a proposed cigarette tax and people who didn’t smoke were all excited about how good it would be. It’s wrong on principle and they just keep stacking taxes one on the other.
What if they use that money for the proposed train here in California? That would be a joke
Heck for that matter lets fund every government program, we all know we will never run out of money, we just have to print more. Heaven forbid we pay as we go, charge it!
The roads and bridges in this country are in need of repair. My problem with the government control of the funds is their inability to spend the money like it was comming out of "their" checking accounts. The waste and abuse of spending by the Federal government has long been well known. Control spending by having a single conservitive manager / financial adviser / who is managed by another to make sure the funds are spent wisley and the costs are reasonable. Stretch every dollar to maximize it's effectivness. "NO MORE WASTE"!
Wasn't the Roads and bridges- what the "shovel ready jobs", were supposed to fix a few kilbillion dollars ago? I doubt if the highways will ever see a dime of it!
Leslie Ehrman De Palo Yes, man made global warming is a HOAX. Are you serious? Are you really gullible enough to believe that C R A P? Any and all evidence of the warming is ONLY by computer models. There is NO physical evidence anywhere. Do your emotions make you really want to believe?
Want this kind of gov't idiocy to stop? Look into Ted Cruz's ACTUAL record.
Fannie and Freddie will never get out of conservatorship. Once the thieving blaggards in Congress find a way to steal money,it would never occur to them to cut themselves off from their latest and greatest gravy train.
lol – They will spend it one way or the other, they always do and some extra just to be sure its all gone, and I am not sure we see any better roads or bridges for the hard earned money. I am still waiting on the “shovel ready projects” promised 4 years ago !! – the only thing I see are signs promising the projects are coming soon. LOL – It never ends.
I think everyone is missing the underlying message here. If F&F get any kind of revenue stream taxed (and 10 basis points is minimal if it is for transpo) then all this hootin’ and hollerin’ about shutting down F&F is for naught. They will continue on as they are now.
So, what's Congress doing with all of the money that's supposed to be spent on roads and transportation?
T H E F T !