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Desperate Freddie Mac Ads

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August 14, 2008 – Comments (5) | RELATED TICKERS: FMCC , FNMA

desperate FRE2

FRE desperate1 

Nearly choked when I saw these on the WSJ because, of course, FRE doesn't need consumers to come knocking on its door. What it does need is to try and make itself seem too important to fail in the public eye, thus these pandering ads. 

Nothing in here about enabling that entire housing Ponzi scheme, of course, or about needing to suckle at the taxpayer teat (or at least have guaranteed access to the taxpayer udder) to have any hope of salvaging its equity value. Nothing here about ditching that whole affordable housing mandate, and taking care of McMansions for the rich and pseudo-rich.

If only our lawmakers had the guts to make plans take Freddie (and Fannie) out and administer two in the hat, we'd be on our way to real capitalism and a saner mortgage market. 

5 Comments – Post Your Own

#1) On August 14, 2008 at 9:16 PM, FleaBagger (29.77) wrote:

Are you for real capitalism, or are you for nationalizing them?

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#2) On August 14, 2008 at 10:24 PM, Imperial1964 (97.76) wrote:

So, how exactly are they serving renters??

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#3) On August 14, 2008 at 11:38 PM, lquadland10 (< 20) wrote:

Have you seen the ads for the chase bank? They are offering the moon just to get checking accounts.

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#4) On August 15, 2008 at 9:53 AM, TMFBent (99.82) wrote:

You have to nationalize them first before you can get to the real capitalism, fleabagger. They're already "national" by default, thanks the the taxpayer backstop. Might as well give the taxpayers the potential rewards after taking them over, shoring them up, splitting them up, and selling them back to the market.

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#5) On August 15, 2008 at 5:11 PM, eldemonio (98.90) wrote:

I just found this from May 15th - kind of old but explains how FNM is advertising cheap vacation homes to Brits.  Unfrickinbelievable.

http://www.marketoracle.co.uk/Article4718.html

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