Donate

Those lousy Greeks/Europeans, how can they spend so much money propping up their failed economy and jobless cretins and mountains of bad debt? Don't they have capitalist scruples or whatever? Oh yeah, and America's government-run mortgage hander-outer, Fannie Mae, needs another $8.4 billion to get through next week maybe, things have been sort of tough, what with the $11.5 billion loss just in the first quarter of this year.


The Wall Street Journal reports:

Fannie's losses reflected continuing weakness in the housing market and would have been worse without accounting changes that reduced its deficit. The quarterly loss was an improvement from the $23.5 billion loss for the year-ago quarter and marked the 11th consecutive quarterly loss for the Washington-based firm.

The company has now racked up losses of nearly $145 billion, or nearly double its profits for the previous 35 years.

Oh but that's okay, at least the other big government backer of home mortgages is okay, right? Uhh:

Freddie Mac, the bailed-out mortgage-finance giant, reported Wednesday that it continues to lose money and needs an additional $10.6 billion in assistance from U.S. taxpayers.

But mortgage delinquencies through Fannie Mae fell by a tenth of a percent, so that's good? Besides, real estate always goes up! As terrible as this all sounds, Fannie and Freddie are basically holding up the entire American Mortgage market right now -- 96.5% of all new mortgages in this doomed nation are either held or guaranteed by the two government-run giants.

As bad as the situation may be, without government conservatorship, Fannie and Freddie could've gone down like Lehman Brothers. It is difficult to imagine the chaos and horror that would follow ... and that's why Dangerous Lunatic John McCain just introduced legislation to just shut the danged things down. [Washington Post/Wall Street Journal/Washington Post]

$
Donate with CC

Among the primary results from Tuesday that we didn't report: Chris Murphy, US Senator from Connecticut, managed to hold on to the Democratic nomination for a second term. Actually, if you want to get all technical about it, he didn't win the nom Tuesday -- he'd already been nominated at the state party convention in May, and the Dem primary was cancelled since Murphy was the only one to file. Murphy's also heavily favored to win reelection this fall. The biggest question for Murphy is whether he's hoping to seek some other office in a couple years. (As if any prominent Democratic senator hasn't already mentally compared their inaugural crowd size to Trump's.)

Keep reading... Show less
$
Donate with CC

In 2014, Pastor Jamie Coots of the Full Gospel Tabernacle in Jesus' Name church in Middlesborough, Kentucky died from a rattlesnake bite. Was it a camping accident? Did something go terribly wrong at the zoo? No, he was handling those snakes on purpose, in order to demonstrate how super holy he was. Not holy enough, it seems,

Keep reading... Show less
$
Donate with CC
Donate

How often would you like to donate?

Select an amount (USD)

  • Saturday, Aug 11th ....... Seattle, WA
    Discovery Park, 4-7pm
  • Sunday, Aug 12th ....... Bellingham, WA
    Sunnyland Park, 2-5pm
  • Sunday, Aug 19th ....... Spokane, WA
    Audubon Park, 2-5pm

Read More

©2018 by Commie Girl Industries, Inc