Marketplace

Shakin' your Fannie

So… anything happen over the weekend?

Oh yeah… biggest government bailout EVER.

This morning we spent most of our editorial meeting discussing how to address the Fannie Mae/Freddie Mac takeover. By the time you hear the show, the news will be a week old. But this is right in our “wheelhouse” so we’ll be doin’ some ‘splainin’, even if you’ve heard some of it before. Marketplace reporter Mitchell Hartman will be delving into the homeowner/homebuyer questions of what happens to your mortgage if it’s backed by Fannie or Freddie, and what happens/what changes if you’re looking to get a mortgage.

Then we’ll address the issue of shareholders who look to possibly lose everything if they invested in these companies. Is it just me, or does it feel like there’s just no safe investment anymore, despite what we’re repeatedly told? Auction-rate securities… Fannie Freddie… There’s always risk involved in investing, but who and what are we supposed to believe when we’re told don’t worry, this is a safe one? And Chris has some pretty strong feelings that he’ll share about all the pension funds that may have lost their shirts because they held F/F stock.

What else do you want to know about this news development? Post your thoughts here and help us frame the discussion this weekend. By the way, if you want a good primer on Fannie and Freddie and how they operate(d), check out this interview we did with Susan Wachter back in April. Of course now some of the definitions are outdated because of the takeover… but she does a good job explaining why the two entities exist. And just for the record… nationalization is exactly what Chris (aka Magic 8 Ball) predicted and encouraged in the Straight Story two months ago.

Elsewhere in the show, Marketplace’s Steve Henn is going to do some on-air illustrating for us! He’s going to draw the line between your political donation and where it actually ends up in a campaign’s treasure chest. And we’re celebrating National Coupon Month! Janet Babin takes a look at all those smart people who save serious coin by clipping. And how many of your employers offer a lifelong learning account? What IS a lifelong learning account, you ask? Full answer coming this weekend, but to give you a taste… it’s a personal savings account provided — and matched! — by employers so people can go back to school.

What would you study if you had the money to go back to school? I’d go to Juilliard, become a concert pianist and be invited to play Grieg’s A-minor concerto at the Hollywood Bowl with the LA Phil.

Ok… gotta go practice…

• September 8, 2008
• 1 comments