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Freddie and Fannie panic intensifies
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STEVE LADURANTAYE
The Globe and Mail
July 13, 2008
The bloodletting at Freddie Mac and Fannie Mae could have profound consequences for the U.S. economy, but it appears to stem more from a crisis of confidence than fundamentals.
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“Events are moving so quickly, I’m not sure what’s relevant any more,” said Howard Shapiro, an analyst at New York’s Fox-Pitt Kelton Cochran Caronia Waller. “We’re basically in the world of psychology and panic now and nothing has anything to do with reality.”
While industry experts suggest Freddie Mac and Fannie Mae have enough capital to weather the housing crisis, shares in both companies dropped 45 per cent in the last week as investors rushed to get their money out, fearing that U.S. government intervention could wipe out their holdings.
The mortgage crisis in the United States deepened yesterday as federal regulators seized IndyMac Bank’s assets. It is the biggest regulated thrift to fail and the second-biggest financial institution to close in U.S. history.
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July 13th, 2008 at 1:11 pm
I think I’m paranoid:
http://www.youtube.com/watch?v.....re=related
July 13th, 2008 at 1:25 pm
Great I hope all those uptight greedy bankers have a stroke!
July 13th, 2008 at 1:39 pm
Nothing about the Freedom March?
Here’s some good news: http://www.flickr.com/photos/5.....7/sizes/l/
July 13th, 2008 at 1:48 pm
Seriously! I had a great time at the March. and I know Infowarriors were there en mass
July 13th, 2008 at 1:59 pm
HAVE YOU BEEN BAPTIZED ACCORDING TO THE SCRIPTURES?
JESUS PUTS AN IMPORTANCE ON WATER BAPTISM.
He that believeth and is baptized shall be saved; but he that believeth not shall be damned. Mark 16:16 (KJV)
A PERSON MUST BELIEVE IN JESUS CHRIST WITH HIS WHOLE HEART BEFORE HE GETS BAPTIZED.
Then Philip opened his mouth, and began at the same scripture, and preached unto him Jesus. And as they went on their way, they came unto a certain water: and the eunuch said, See, here is water; what doth hinder me to be baptized? And Philip said, If thou believest with all thine heart, thou mayest. And he answered and said, I believe that Jesus Christ is the Son of God. Acts 8:35-37 (Most modern versions of the Bible omit verse 37 because they come from Catholic manuscripts. The Catholic Church believes in infant baptism. An infant cannot repent of his sins, and cannot believe in Jesus Christ. So infant baptism is unscriptural.)
WATER BAPTISM IS BY IMMERSION ONLY. (SPRINKELING IS NOT SCRIPTURAL WATER BAPTISM.)
…Jesus came from Nazareth of Galilee, and was baptized of John in Jordan. And coming up straightway out of the water, he saw the heavens opened, and the Spirit like a dove descending upon him. Mark 1:9,10
…and they went down both into the water, both Philip and the eunuch; and he baptized him. Acts 8:38
JESUS COMMANDS HIS DISCIPLES TO BAPTIZE. (NOT JUST PASTORS BUT ALL MEN DISCIPLES)
Go ye therefore, and teach all nations, baptizing them in the name of the Father, and of the Son, and of the Holy Ghost:
Matthew 28:19
THE BOOK OF ACTS IS WHERE JESUS’ DISCIPLES CARRIED OUT HIS COMMAND TO BAPTIZE. THEY BAPTIZED IN THE NAME OF JESUS CHRIST BECAUSE THAT IS THE NAME OF THE FATHER, SON, AND THE HOLY GHOST. BAPTIZING USING THE QUOTE “IN THE NAME OF THE FATHER, AND OF THE SON, AND OF THE HOLY GHOST“ INSTEAD OF USING “ IN THE NAME OF JESUS CHRIST“ IS UNSCRIPTURAL AND IS USED BECAUSE OF A LACK OF UNDERSTANDING THE COMMAND OF JESUS CHRIST. THE FIRST DISCIPLES UNDERSTOOD AND OBEYED JESUS’ COMMAND.
Then Peter said unto them, Repent, and be baptized every one of you in the name of Jesus Christ for the remission of sins, and ye shall receive the gift of the Holy Ghost. Acts 2:38
….Then answered Peter, Can any man forbid water, that these should not be baptized, which have received the Holy Ghost as well as we? And he commanded them to be baptized in the name of the Lord….. Acts 10:46-48
Then said Paul, John verily baptized with the baptism of repentance, saying unto the people, that they should believe on him which should come after him, that is, on Christ Jesus. When they heard this, they were baptized in the name of the Lord Jesus. Acts 19:4,5
WATER BAPTISM DOES NOT WASH AWAY SINS. ONLY JESUS’ BLOOD WASHES AWAY SINS.
And from Jesus Christ, who is the faithful witness, and the first begotten of the dead, and the prince of the kings of the earth. Unto him that loved us, and washed us from our sins in his own blood, And hath made us kings and priests unto God and his Father; to him be glory and dominion for ever and ever. Amen. Revelation 1:5,6
But if we walk in the light, as he is in the light, we have fellowship one with another, and the blood of Jesus Christ his Son cleanseth us from all sin. I John 1:7
WATER BAPTISM SHOWS A PICTURE OF SALVATION. JUST AS IF YOU DIED AND WERE BURIED, YOU DIE TO YOUR OWN WANTS AND DESIRES (PICTURED BY GOING UNDER THE WATER BACKWARDS), AND JUST AS IF YOU WERE RESURRECTED FROM THE DEAD YOU NOW ARE ALIVE TO LIVE FOR THE LORD JESUS CHRIST (PICTURED BY BEING LIFTED BACK FROM OUT OF THE WATER.)
Know ye not, that so many of us as were baptized into Jesus Christ were baptized into his death? Therefore we are buried with him by baptism into death: that like as Christ was raised up from the dead by the glory of the Father, even so we also should walk in newness of life. Romans 6:3,4
THE BIBLE IS THE FINAL ATHOURITY. EVERY CHRISTIAN NEEDS TO BE BAPTIZED ACCORDING TO THE SCRIPTURES. IF YOUR CHURCH OR PASTOR BAPTIZES DIFFERENTLY THAN WHAT IS TAUGHT AND COMMANDED IN THE BIBLE THEN IT IS UP TO YOU WHO YOU ARE GOING TO OBEY.
July 13th, 2008 at 2:00 pm
PANIC AAAAAGGGHHHHHHH!!!!!!!!!,for what i dont own anything, except my car,im not worried about nothing, cuz i dont have nothing to lose,
July 13th, 2008 at 2:16 pm
Everything is working out just as planned.
I wonder if McDonald’s will have an Amero menu?
July 13th, 2008 at 2:54 pm
reefer, someone owns where you live. have they paid the mortgage? can they pay it off when the banks implode? but I guess you can always live in that car of yours. gonna be hard to find a cool place to park and smoke though, after you run out of $15/gallon gas. worried yet?
July 13th, 2008 at 3:06 pm
stop paying your taxes,TAXED till death,and even after,IF WE ALL JUST SIMPLY STOPPED PAYING OUR TAXES THEIR FUNDING WOULD GO AWAY,we buy our own demise and gladly too.STOP PAYING YOUR FUCKING TAXES.
July 13th, 2008 at 3:06 pm
Anyone that lost there house…..guess what?
Its there fault.
You can ONLY lose your house if you dont pay……NOT because the price of your house drops……
Its clear NONE of you own houses…… Have NO CLUE how a mortgage works.
When you sign a mortgage, you know EXACTLY what your payments are. There are 2 types of mortgages, open and fixed. IF YOU HAVE A OPEN MORTGAGE YOU HAVE THE OPTION TO CHANGE TO A FIXED RATE EVERY 3 MONTHS!!!!!!!! So its not like the interest rates tripled….in fact, they barely moved.
So if you bought a house at $100k, and your payments were $1000/month……YOU KNOW THAT!!
If your house fell to be worth 50k…..Guess what??? You still know your payments are $1000/month, you can choose to sell or keep the house…..Either way, you knew what the price would be when you signed the mortgage.
So all these people whining about losing there homes, I dont feel bad for them, they knew exactly what they would be paying, and they couldn’t afford it.
WELCOME TO LIFE!
July 13th, 2008 at 3:10 pm
ive been living out of that car for over a year now,the mountains are usually cooler than down here,but if i must i have legs and feet that work just as well,NOW ARE YOU WORRIED THAT I CAN MAKE SUCH DRASTIC CHANGES TO MY LIFE WITHOUT A PANIC ATTACK!!!!!!,oh yeah i can grow everything i need,cough, cough,HERE…
July 13th, 2008 at 3:19 pm
ReeferKeefer, How do you go online from yer car?
July 13th, 2008 at 3:23 pm
When i was paying off my student loan (to fannymayday), there was no gov’t bailout to help me. Why should the gov’t bail out theses leviathans?
July 13th, 2008 at 3:36 pm
Get your money out of the banks before its to late! LOL!
July 13th, 2008 at 3:36 pm
why do we agree to pay these criminals?we can FREEZE their assets and end this today!we are the ones funding these political criminals,WE ARE IN CONTROL AND ALL OF THIS IS OUR OWN FAULT,STOP PAYING TAXES!!!!!!!!!!!!IT IS THAT SIMPLE,GOD DAMN IT WAKE UP AND STOP PAYING YOUR FUCKING TAXES,THIS COUNTRY WAS FOUNDED ON A TAX REVOLT.
July 13th, 2008 at 3:37 pm
Help me Sign this ANTI – Fluoride petition
I am a 27 yr.old wife an mother of 5 beautiful children,whom I adore and want to keep healthy an safe from all harm.Seeing that fluoride is in our water it is hard to do that.I am here trying to inform others about fluoride and the extremely harmful effects of this product. I was sickened to learn all the crap that it causes,such as holes in the brain,thats right it eats away your brain,along with so much more.You can see for yourself at Fluoridealert.org/..You will be alarmed at all the effects it has on us,but yet why do they put it in our water??Good question I have my own beliefs on this.Please join me to stop this madness.It will take all of us to stop it…
http://www.thepetitionsite.com.....ide2gether
July 13th, 2008 at 3:38 pm
there are these things called libraries,and my friends and family have the smart boxes too,GEE WIZ!!!
July 13th, 2008 at 3:53 pm
I lost my home and I had no problems ever making payments for 9 years….until I lost my job. Many people I know are going through the same issues. The problem isn’t just reset of mortgage interest rates and values, its that people are losing jobs. How do you blame people for that? I never asked, and will never ask for any other American to directly bail me out. I take responsibility and live with it.
July 13th, 2008 at 4:56 pm
Question-How do I stop paying taxes?? How do I stop money from leaving my check and going to the Feds? I don’t owe any taxes, and at the end of the year I get a refund. I can’t very well let them keep it. So, how do I stop paying taxes if I don’t owe?
July 13th, 2008 at 5:06 pm
To #18 Dandy Don:
It really hurts to hear from people who have directly lost their homes due to unemployment who were otherwise socially and financially responsible. It is happening all throughout my county. I have it related personally or read about it on Net or in local newspaper.
The economy of the country has gone south. I live in one of the most affluent communities in the US, and our local plaza, which normally is not something that is price sensitive, has lost over three major businesses in the last six months. Moreover, the businesses are closing literally overnight with no prior announcement. For sale signs are tucked quietly under multimillion dollar properties.
Those that thought they were immune or still think so need to wake up. Things are seriously out of balance.
You lost your job and lost the home. The scenario is too frequent. Marriages have been wrecked when a spouse loses a job and the payments begin to fall back. The remainder of the family lives on reduced earnings, no home and credit card debt. The US cannot continue as a country with this kind of scenario being played out. The older people on fixed incomes are literally stunned because they cannot afford very much beyond basics. Most cannot upgrade to a high fuel efficiency vehicle. They all know prices very well and think this is the biggest ripoff they have ever seen.
The US have always stood for innovation. Any bank that wants to seize property back without working with the mortgagee is idiotic. Further, did you know that in order for a bank to foreclose on a home THEY MUST PRODUCE THE ORIGINAL MORTGAGE DOCUMENTS. So many have been recklessly sold as CDO’s, banks have no paper trail, and thus they CANNOT legally foreclose. So many banks have no paper trail and people must demand it.
Now the US stands for decadent regression back to the Dark Ages. The country has plenty of examples to learn from… history is out the window and ignorance and greed rules. Never thought a nation could become such a mess. Many African nations are better managed.
July 13th, 2008 at 5:24 pm
stop filing w-2 when you get a job,think and you will be rewarded with knowledge,everyone must do this,demand your pay to be in cash,!!!!figure it out,or perish!
July 13th, 2008 at 5:27 pm
the stock market like life… all operates on faith… when people loose faith in the market systems by perceived threat of it’s crashing… they do a bank run & sell their shares off which in return creates a crash.
learn some truth behind the nwo brainwashing system they have in place at our public school systems!!!
myspace.com/freehovind <————–watch all the videos!!!
they put him in federal prison for illegitimate tax reasons till 2015 (it’s a 10 year sentence). some MURDERS don’t even get that & you know the reason why..? cause he was messing with the way they brainwash the our kids & future generations & the masses to believe that you are not created by God… nor are given any God given rights. like life, liberty, the pursuit of happiness, freedom from oppression, tyranny, police state… and many more. hope you get the bigger picture my friends. if you rewind time back… there’s only 1 way & 1 truth to how we all got here & to where we are all going in the end.
take care & God Bless
July 13th, 2008 at 7:54 pm
MONEY….WHO NEEDS MONEY? IT’S NOT GOING TO BE WORTH ANYTHING ANYWAY. OK PEOPLE, JUST GO HOME AND WAIT FOR THE KNOCK ON THE DOOR. WAIT, WAIT, WAIT….THEN GIVE THE GUNS AND DO IT WITH A SMILE…..C’MON HAND OVER THE GUNS, NOW GIVE THE HOUSE AND PAY RENT…IF YOU DON’T, I’LL RAISE THE PROPERTY TAX UNTIL YOU CAN’T PAY IT, AND THEN I’LL KICK YOU OUT, HA!
July 13th, 2008 at 8:23 pm
My property taxes just went up, values are down-corruption is up.
July 13th, 2008 at 9:13 pm
Hey jasmine, you’re one of those FoxNews, former beauty queen, wantabes…aren’t you. I guess you email them your collection of messages to this sight, as proof of your blind faith to the homeland…huh, High Hitler!!!! You’ll do anything to save your own ass, won’t you…including turning in others when the time calls for such self-preservation measures.
July 13th, 2008 at 9:16 pm
Ohh boy! Am i ever exited for the market to open on monday! Maybe we will set more records.
July 13th, 2008 at 11:45 pm
Looks like the markets are playing the limbo game. How Low can it go?? That is the question… but hey, have faith in the markets. Step up and be sacrificed for the big bankers.
Big money!! big money!! big money!… AHHhhh you loose.. Wow didn’t see that coming…
Suckers!!!
It is the nature of big banking systems to suck you in and bleed you dry. Foolish idiots!!!
July 13th, 2008 at 11:59 pm
What a mess.
July 14th, 2008 at 9:52 am
RANGER #10—–THAT STATEMENT WAS VERY IDIOTIC……….DO YOU KNOW 1 OF THE MAIN REASONS PEOPLE ARE LOSING HOMES….ITS DUE TO AMERICANS LOSING JOBS BECAUSE OF OFFSHORING AND THE MELTING AWAY OF THE ECONOMY WHICH IS CAUSING MORE AND MORE PEOPLE TO LOSE THEIR JOBS…………………………..AND WHEN YOU DONT HAVE A JOB GUESS WHAT……………….YOU CANT PAY YOUR MORTGAGE………….