Effect on Job market of Freddie and fannie merger / privatization

[Anonymous]

Hello ,
Its really hard to find Job in DMV area. now hearing lot of things about freddie / Fannie merger or making them private . How it will affect Job market in this area?
will it create job or more lay offs ?
Thank you

[Anonymous]

Layoff city. Redundancy, cost cutting, I mean most of what it does can be automated even before AI

[Anonymous]

Many people are working there it will be bad if it happens.. current admin is moving in that direction swiftly .. I guess it will happen before end of the year

[Anonymous]

Anonymous wrote:Many people are working there it will be bad if it happens.. current admin is moving in that direction swiftly .. I guess it will happen before end of the year

First of all they have to hire like crazy to beef up SOX, Audit, Finance, Complaince to do IPO. It will create jobs. Plus only selling 5-10 percent will still be 85-90 percent US owned

[Anonymous]

For IT it will be a bloodbath.

Many private corporations can do what Fannie and Freddie do for much cheaper. They just didn’t have access to capital at such low rates with the implicit federal backstop

But Fannie and Freddie are filled with so many incompetent ex h1bs that it will be glorious to watch as they get fired before the ipo

Maybe look to buy property in Ashburn soon.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Many people are working there it will be bad if it happens.. current admin is moving in that direction swiftly .. I guess it will happen before end of the year

First of all they have to hire like crazy to beef up SOX, Audit, Finance, Complaince to do IPO. It will create jobs. Plus only selling 5-10 percent will still be 85-90 percent US owned

No it will not

The goal is to run small number of employees with zero benefits project 2025/

[Anonymous]

Their IT dept was almost entirely h1bs. They are some of the most corrupt and incompetent people I have ever had the displeasure of interfacing with. Do not hire anyone in IT from these orgs.

[Anonymous]

Anonymous wrote:Their IT dept was almost entirely h1bs. They are some of the most corrupt and incompetent people I have ever had the displeasure of interfacing with. Do not hire anyone in IT from these orgs.

Np. How so?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Their IT dept was almost entirely h1bs. They are some of the most corrupt and incompetent people I have ever had the displeasure of interfacing with. Do not hire anyone in IT from these orgs.

Np. How so?

The IT is a toxic landscape of rows and rows of contractors, Indian body shops, take your pick, H1Bs lined up in conference rooms, all pecking away at documents and processes that add little value to the business.

The overhead of people that do not do any real work is absurd. for every productive developer, there are 20 people that do nothing but shuffle paper, plan tasks, update project plans, enter tickets for requests for work, create reports for managing up, create videos for managing down. It really is amazing that so much money can be spent on such unproductive activities for so long that no one cares.

Freddie Mac is the most expensive software development shop in the US.

[Anonymous]

More and more convinced America has the president it deserves. You're all cut from the same hateful cloth.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Their IT dept was almost entirely h1bs. They are some of the most corrupt and incompetent people I have ever had the displeasure of interfacing with. Do not hire anyone in IT from these orgs.

Np. How so?

The IT is a toxic landscape of rows and rows of contractors, Indian body shops, take your pick, H1Bs lined up in conference rooms, all pecking away at documents and processes that add little value to the business.

The overhead of people that do not do any real work is absurd. for every productive developer, there are 20 people that do nothing but shuffle paper, plan tasks, update project plans, enter tickets for requests for work, create reports for managing up, create videos for managing down. It really is amazing that so much money can be spent on such unproductive activities for so long that no one cares.

Freddie Mac is the most expensive software development shop in the US.

Based on what you say if they get fired housing will Affected badly in dmv area. Most of them are full time employees and many are contracting via consultancies.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Many people are working there it will be bad if it happens.. current admin is moving in that direction swiftly .. I guess it will happen before end of the year

First of all they have to hire like crazy to beef up SOX, Audit, Finance, Complaince to do IPO. It will create jobs. Plus only selling 5-10 percent will still be 85-90 percent US owned

Have you seen the IPO market in recent years. Investors aren’t deep diving into finances; they will vibe on the private profit, public risk structure as a no lose scenario

[Anonymous]

Anonymous wrote:For IT it will be a bloodbath.

Many private corporations can do what Fannie and Freddie do for much cheaper. They just didn’t have access to capital at such low rates with the implicit federal backstop

But Fannie and Freddie are filled with so many incompetent ex h1bs that it will be glorious to watch as they get fired before the ipo

Maybe look to buy property in Ashburn soon.

Whoa someone has an axe to grind.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Many people are working there it will be bad if it happens.. current admin is moving in that direction swiftly .. I guess it will happen before end of the year

First of all they have to hire like crazy to beef up SOX, Audit, Finance, Complaince to do IPO. It will create jobs. Plus only selling 5-10 percent will still be 85-90 percent US owned

Have you seen the IPO market in recent years. Investors aren’t deep diving into finances; they will vibe on the private profit, public risk structure as a no lose scenario

Maybe your grandpa investor buying 20 shares off fidelity account.
Professional investors absolutely look into every single finance info.

[Anonymous]

Anonymous wrote:More and more convinced America has the president it deserves. You're all cut from the same hateful cloth.

Just wait until your kids from UVA/Emory can’t even score an interview bc they are not one of them. Then we can talk.