Jim Rogers Speaks the Truth about Fannie Mae and Freddie Mac

[MrSmackdown100]

If you let Fannie and Freddie go bust then the whole economic system goes down with it in America and across the world . The idea that Fannie Mae's balance sheet was represented largely by prime mortgages is of no consequence ;it was the sub prime element on the balance shet which caused the problem.

[frankqio]

sold his house in the US in 1980

[Tomta20012]

Outstanding, he smashed the ball right out of the ball park! Thieving bastards!

[casienwhey]

"if you are blaming all this on short sellers, than you should have another job." Jim said it right and that idiot tv show host Bertha can now go be on a show on Hollywood gossip where she belongs.

[tickyul]

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''

[getabrainasshole]

was does cnbc hire on stupid people........find another job bah hahahaha!

[flirtwd]

we don't have to pay shit. We can leave america and all the shady motherfuckers right here. Think about it. Without the human condition the bastards fucking us up don't stand a chance. Or lets not breed and leave together in communes.

[RIPPED7399]

Rogers is the effin man.... he remembers all their names and then OWNS them and makes them look like the ass clowns that they are

[squirly]

Jim was dead on in this interview. Bertha got owned.

[Elbottoo]

I watch a lot of Jim Rogers interviews. What I like about the guy is that he always remembers the name of the journalists and interviewers. Amazing how he shakes a hand and remembers the name instantly. And during the interview, he would just call them by their names.

[jayangli]

he has personality and also i guess using their name is a form of good communication

[jmitterii2]

Home prices will need to lower, much lower than what they are now. A home that costs 100,000 today (July 09) is worth only 60,000 in next year. Homes that cost 150,000 now will be 80K-90K. 200K will be 110 to 100K. 500K will be 140 to 150K. 1M homes 160K-180K. Prices on all things must go down otherwise inflation will grow. Either way, one or the other must happen. Both scenarios suck. :( Thanks Regean, Clinton, and Bushes!! Told my dad, his generation failed us badly!!

[zoso1978]

avg home price in detroit is 6K

[panleh75]

these people are the federal psycopaths that rule america...(however not that other countries are any better)...

[wang0fett]

moar like BigWang amirite?

i wasnt arguing with Jim. Jim rogers is the fucking man.

he knows whats up. i was making fun of the little slut pundit that was trying to back-talk him

[ktm7979]

Love that "find another job blast" - short sellers are only grilled when they are right. If you are smart and can guess which way the market is going to go then you have that right to short. It is intellectual gambling.

[hdnguyen1911]

Why do they interview this guy when he is expert and than they say no your wrong. Kim knows his shit.

[Nickalispicalis]

Pull your head out of your Ass Bertha...LOL

[ok1jwc]

I love how these talking heads always believe that government is smart enough to solve something that they caused in the first place and swore up and down WAS NOT HAPPENING!

The government has a hard time getting mail to your house and its got your NAME AND ADDRESSS RIGHT ON IT!

People like Jim Rodgers sit back and make billions off the stupidity and gullibility of peoples faith in their idiotic government.

They lie to us over and over and lead us to destruction and we cry, more please!

[DCStream]

The government didn't cause this. Recessions happen in a broken Price-System. The government justs speeds up the process.

[ok1jwc]

Sorry to disagree. This was directly caused by the FEDERAL RESERVE lowering interest rates below what the free market would have. Then the government added moral hazard by encouraging banks to lend huge amounts of money to "underserved" communities or else. This began the entire bubble in real estate which lead directly to the creation of credit default swaps of worthless mortgages. It also cause people to go on a spending binge believing they were richer than they were because of paper wealth.

[tag12345]

"I urge you to get a balance sheet and examine it, or get someone who can explain it to you" BWAHAHAHAHAHAHAHAHAHAHAHAHAHAH­AHAHAHAHAHA!!!

[lfgefd]

He is right and he scares the ever loving shit out of them and that why they argue.

Its like their house is burning and they refuse to recognize the flames lapping at their heels...fools

[ball4thegame]

wow. he totally called them out on tv. fuggin christ. how much more are we gonna take?

[danbison]

The kind of person who can still pull off a pink bowtie is a late middle aged southern man.

[pismo10]

Poor Bertha....To dumb to keep up with JR.

[slumberyard]

HUGE RON PAUL SUPPORTER:))

[dirtbagdarrell2008]

Racist or not, the truth is the banks loaned money to a bunch of minorities that they knew could never pay it back, because if they didn't the democrats would cry racism.

[waleedsuv]

The jews are the ones who took your money , America. It was fun while it lasted.

[grabmail]

arab loves jews. hug hug

[nextlifeguitarist]

men please open your eyes, i am very tired to ear people speaking about jews keeping money..the usa owners now are saudi arabian and chinese people....and..good for usa and world that they leave his money in usa, at the moment and also put more money..

[grannyo11]

It seems to me, we the people have been robbed, and now we the people,the taxpayers, are going to pay them again for robbing us.The rich get richer.I don`t know about everyone else but I`m hungry and its going to be a cold cold winter.

[lrlpercy]

News Media is no longer your friend.

[moviedude111]

MSM has been that way for decades.

[eighthgap]

Here he said we have to find oil quickly. There is 175 billion barrels of oil in Alberta Canada.

[Givemelib3rty]

When Citi bank leases their debt to a debt collection lawfirm the firm sends the proceeds to citi bank not kalamazoolu. I collected for Sallie Mae, the collection firm cant even take pmts or garnish them..the Fed wants payment in full & get it more than you know. The 3 DEVIL DEBTS. STUDENT LOANS..IRS..HUD/FED HOME LOANS. U can NEVER GET RID OF THESE DEBTS.

If U want to STRIKE A DEAL with the DEVIL? GET A FEDRL LOAN. DEAR CITIZENS PLEASE DONT DO IT!

Its so DEMONIC. DONT TIE UR SOUL TO DEMONS!

[Givemelib3rty]

Come on dummies, There is a motive for bailing out Fran & Fred. they R FEDRL institutions.

An individual can never file bnkr on a Fed loan. The reason the Fed bails out Fed loans is so they can LEASE out the debt for 10% to 25% & COLLECT IT! They just cant do it right now due to the outrage of Citizens. (bailout 4 banks not citizens?) But its comming..

[wang0fett]

DAMN HE JUST TOLD THAT NEWSGIRL SHE SHOULD GET ANOTHER JOB.... XFD

what a stupid pundit bitch. trying to tell an oxford educated business expert that freddie mac and fannie mae are solvent companies.

hahaha notice how they cut the camera

[itsmewendy39]

Wake up people Your government has sold you out !!!

[WHEREtheFUNK]

rogers has moved to singapore...he bugged out last week

[spookytom]

YIKES!!!!

And this, of course was before AIG, WaMu and who knows what other institution will go down before the week is out.

House of cards.

[KewazingaBabinga]

People should really pay attention to this guy.

[gammabun]

jim rogers and peter schiff: light in the tunnel

[Anothercoilgun]

Him and Ron Paul. I agree.

The problem of the nation this past 4 years is that people do not listen.  For of people did listen to this guy we would not knee deep in to.

[odessa321]

damn, jr is harsh. he made a crap load of

money shorting these companies.

[stew4lunch]

Citizens of Connecticut and Massachusetts. Why haven't senator Godd and Barney Prank commented on the Fannie May debacle? They're afraid to. It involves conflict of intrerest in oversight, catering to lobbyists, and waiving rules of investment per lobbyists requests. You might email your worthy senators for more information.

[pasatio]

Jim Rogers is the MAN....that bitch got OWNED! haha!

These fucking ARROGANT journalist yuppies!

[xavster]

lol, they're trying to argue with a billionaire about money, the odds are against you :D

[cheech99rm]

That was like watching a college drop out try to have an academic conversation with someone with a phD about a topic in their line of expertise. She wasn't even able to properly formulate competent questions for the man.

[jwcs69]

Typical CNBC shills. Sharp as a beach ball.

[closetathiest]

if it goes to ten cents I'll by 1000 shares if it goes to nothing i loss $100. if it goes up i'll get rich. I'll take the risk of $100.

[CarMoves]

There's a reason why he's wealthy and she's not.

[dilbertgeg]

This will rile the Rockwell crowd, but FM was originally created by FDR as PUBLIC entities. The purpose was to jumpstart commerce, after everyone was fleeced and people who still had money had stuffed it in mattresses.

Later, the other FM was created, both were PRIVATIZED (crony-ized), but kept some govt backing. The term is "moral hazard". Agreed. However Judicial activism in late 1700s and 1800s re-defining Corporations as Persons with Immunity for owners is moral hazard too.

[Wallnut072]

this man is real about this subject. pretending we have what we dont started this mess.

[willosk]

Blinded by Socialism is Bertha -- and most folks in contemporary finance. Can't fathom life without the Government holding their hand, paid for by pilfering their neighbor. Vigilant Investor has been all over this stuff today.

[DrCramming]

Peter Schiff was right about Fannie and Freddie being bought out by the gov. I so wish he was wrong.

[essai75]

new! Fannie Mae & Freddie Mac will be nationalised in the following days!

[aceventura33777]

LMAO OMG he owned her ass

[Dogheadj]

Shut up, Bertha!!

[jasy221]

america is in deep trouble,doubling the national debt in a weekend,but the dollar is rising again already, only because euro and the uk economies are going into recession and will cut rates while dollar rates rise. The CEO of HBOS bank in the uk made his first interview today,saying he thinks it will take 18 months before the housing market recovers,and he should know,this recession is going to be bad and long and i hope to pick up some bargains,"cash is king folks".

[aln2325826571]

euro and sterling devalued on purpose to prop up the dollar

[drgon76]

A bunch of idiot news casters...... LOL....

[gannelliott99]

Jim Roger is the best economist in the world!

[Segtilt]

Jim Rogers is a good fella.

[grapplerke]

Jim Rogers is very very informed. I have plans of investing in Taiwan as well as Singapore.

[NauticalFILMS]

hahah... jim rogers should destory freddie mac and mae for accounting fraud. they are not telling the truth on media. They just rant with very smart oponion.

[javawhz]

Jim is my hero, he is a straight shooter and tells it like it is!

[investwithpassion]

Great interview! Jim Rogers is a monster and they were not ready for him. CNBC should be ashamed having those two rookies talking to someone of his knowledge and ability.

I agree with him by the way, let Fannie and Freddie die. Also, we need to do away with the Federal Reserve System. These people have no tie to the people and are not accountable to them, thus we get the conditions we are in today.

Something has to change!

[adventuremaniac]

They have terminal patient?

EASY SOLUTION!

Euthanasia.

Done. Saves costs, saves suffering, and makes it makes the period of pain a hell of a lot shorter for everyone.

This should be applied to fannie mae and freddie mac!

[ansonpsng]

the people working in the financial news media are the worst!!! but by comparing the people in Bloomberg vs CNBC, i think those in Bloomberg are smarter!

[LucyVanPelt22]

that lady is a fucking idiot.

Her saliva will rot my cock!!!

[callieland]

what's worse? systemic failure or systemic delusion?

[labartic]

Jim Rogers hesitated for just a second about telling that bitch to get a new job and then he goes ahead and tells her to get a new job "LMFAOOOOOOOOOOO"

[john51880]

She might say short sell well but she only understood get another job!!! lol

[kenzu7]

these interviewers are substandard trying to hold down a tiger

[nolisito]

con semejantes gilipollas we are freeking doomed hahahaha...

[bschinzel]

he told that bitch to get another job

jim rogers = amazing

[fatmoleman]

haha.. that was amazing

[Rustyshackleford08]

I loved it:) Listen to Jim Rogers, Peter Schiff and Paul Van Eeden..etc.

[oolong2tea]

Agreed

[amsd1231]

that lady isn't getting it through her thick skull hu?

[countrybob2]

amsd1231

LOL what thick skull? You have to have something in it to be thick. She is just plain ignorant.

[AnyeongF91]

she is trying her best to have a conversation with someone obviously more informed... lol

[m0t0k0kusanagi]

Jim Rogers for FTW!