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Me on fbn. even if they do, some of fannie and freddie will be defeated. do you think in the end we re going to still need a fannie and freddie? oh, absolutely not. he think they should be abolished. the only question is, what do you put in their place. neil: well, here is idea. how about nothing, don t replace them with anything. charles payne, dagen mcdowell, and charles. we should put a wooden stake through their hearts, but unfortunately we ve given them a bottomless pit of moan and the remnant is the housing bubble, wouldn t exist if it wasn t for fannie and freddie, but i think you ve got to close them down. it s time for this transition to the free markets and even though the administration has kicked a lot of the free market to the curb we ve got to try to make the transition before it is too late. neil: you know, i did understand one thing from barney frank s point of view, you can t go cold turkey on it. that s kind of what he s saying. in other words, if you do it to ....
We d get to a hole, all right, we know it s a sob song here we re not going to be fooled again. this keeps happening. oh, i think it changes when elections show there s repercussions. charles made a great point. everything is an emergency when it comes to spending and it has to be done now. what i have marvelled at the last few months is the emergency to extend unemployment benefits also, i ve got news for you, there s a quarter billion dollars, a couple hundred billion dollars in the stimulus that could have paid for in. the teachers and schools obviously didn t get the memo you better spend it now and of course another 26 billion dollars gone by the way side. neil: it might be in order. and i don t mean to besmirch carl salesman, got to do it now, know you, know you, talk to my manager and sign on this and you realize the car i got is a piece of crap. we heat being rushed, why? well, i think aren t people ....
Us, so, that s why. you could be right. i mean, it s kind of like don t heat the player, hate the game. and it might not just be the freddie, fannie issue because quite frankly, the private sector banks haven t done much better than fannie and freddie over 300 banks have failed this year and a lot of the reasons because of their mortgage lending programs and policies. i think you need to change the rules of the game. that s where the issue is, not necessarily debollishing and unmantling fannie and freddie. that would probably be a good step. the rules of the game, that s where the revamp needs to occur and then the players see how they want to manage their loan portfolio. you know, charles, to understand where washington is coming from now, they fear that mortgages that aren t backed up either by the federal housing authority or for that matter, fannie or freddie, private lenders won t touch it. ....
what receptionist? it s going to be an automated phone service and walk in the doctor s office and a phone there and calling some other countries. and feel like waiting for press for one waiting what s that, rob. i said it might create efficiencies. you don t want somebody that doesn t have any knowledge like myself determining, hey, i want to try that expensive medicine. bottom line, you guys laugh at me when i said this, this is a time you buy stock in furniture i can makers, whoever is making chairs for waiting rooms, on fire. so, gary and charles, look into who are the chair makers. good chairs, comfy chairs you ll be sitting in for a while. a stock that charles pecked two weeks ago, nearly 30% in one day and now he says he can do better than that. charles in charge next. . ....
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