Fannie Mae, Freddie Mac shares slide (Oh, I wonder why?)

Did you know that..........top five foreign holders of Freddie and Fannie long-term debt are China, Japan, the Cayman Islands, Luxembourg, and Belgium. In total foreign investors hold over $1.3 trillion in these agency bonds, according to the U.S. Treasury's most recent "Report on Foreign Portfolio Holdings of U.S. Securities."

Bank of China has cut its portfolio of securities issued or guaranteed by troubled US mortgage financiers Fannie Mae and Freddie Mac by a quarter since the end of June. The sale by China’s fourth largest commercial bank, which reduced its holdings of so-called agency debt by $4.6bn, is a sign of nervousness among foreign buyers of Fannie and Freddie’s bonds and guaranteed securities

First we need to fire all the incompetent and corrupt Bush Mafia Administration, Bush appointees, regulators and executives responsible for this mess and fine them into bankruptcy. They have been practicing money laundering with billions of dollars ($$$$$$$) with other countries.

It really pissed me off when McCain said that people who make $5 million a year are ........middle class. WHAT A JOKE!!!!!!!!!

I question whether the U.S. needs mafia like Fannie Maes and Freddie Macs. Why is it necessary for the government to make such an issue of house ownership?

I know that the American obsession with house ownership is ridiculous and the last few crazy years of rising prices along with dishonest, borrowers and total mafia, incompetent, lenders has finally blown up. Yes, blown up in our faces!!!!!

Seems to me that the government wants the low income (the poor) people renting so they can be more mobile and consistently relocate for higher paying jobs. This is so, so, so, sad!

If you don’t want to be disappointed by housing performance in the near future, disregard forecasts that the bottom is just around the corner. Wake up! The bottom is NOT around the corner or coming soon. And when it does arrive, it will not be obvious, like the bottom in the chart of the DJIA. The housing “bottom” will become noticeable in the rear-view mirror, when you realize that prices have stopped falling. Oh please, and do not expect a sharp rebound. We will stay at the bottom for quite a while. How long will this bumpy ride be, as always, it is market-by-market. So hold on because we are going for a very long bumpy ride because we here in America are being squezzed like a lemon from China!!!

I have provided some links for you about how China is squezzing us like a lemon and we here have allowed this. We are no longer, "We the People" think about that!!

Fannie, Freddie slide as Bank of China pares stake in securities issued or guaranteed

NEW YORK (AP) -- Shares of Fannie Mae and Freddie Mac fell Friday, after the Bank of China said it reduced its portfolio of securities issued or guaranteed by the mortgage financiers by about 25 percent since the end of June.

http://biz.yahoo.com/ap/080829/fannie_and_freddie_mover.html?.v=4

http://money.cnn.com/news/newsfeeds/articles/apwire/ba46b40488baeb0428de84c55c5d66dd.htm

http://www.kiplinger.com/apnews/XmlStoryResult.php?storyid=682140

http://en.ce.cn/subject/chinamarkets/marketpic/200807/25/t20080725_16280434.shtml

http://www.globalsecuritieswatch.org/PRC_Sovereign_Risk_Review.pdf

http://www.marketwatch.com/news/story/chinese-government-top-foreign-holder/story.aspx?guid={347DF7BF-F0B7-48C9-A418-5A0B903D9F72}&dist=hppr