I predict oil will fall due to the 2 Iran hoaxes being debunked...
and this move will cause the markets to rise.
More detail here:
http://money.cnn.com/2008/07/13/news/economy/fannie_freddie_sunday/index.htm?postversion=2008071318
They are too big to fail. Any Fed who would let them fail ought to be shot.
I wonder if there is anything they can do for Bernie. He has brought down the wrath of the Messiah on himself.
And the destruction of the American dollar continues....
I don’t get it... the price of gold hasn’t gone anywhere according to kitco.com... I sort of expected a rise in gold when the Feds bail out Freddie Mac and Fannie Mae...
It’s only money.
They have a great gig, their profit is privatized but their risk is socialized. Beautiful for all except the taxpayers.
If we’re going to rescue Fannie and Freddie, then we need a **PUBLIC** audit of their books.
The bonuses that they have paid out to Democratic Party political hacks need to highlighted, too.
They should bail them out, only if Franklin Raines and Jamie Gorelick are forced to return the money they essentially stole from the shareholders.
Is this good or bad???
“New regulatory controls” always scare me. Could someone explain to me just how much the Federal Reserve is a government agency, and how much it is a private company? Because I especially don’t like a private company being in charge of regulation.
“Treasury, Fed move to rescue Fannie and Freddie”
Obama isn’t going to bring us Socialism. It’s already here IN FREAKIN’ SPADES!
With the stimulus package and recent string of bailouts I’d swear we are in the midst of a second “New Deal.” I wonder if that is such a bad thing considering that there is so much uncertainty in virtually every sector of the economy. Let the executive and legislative branches kick a little ass and protect American interests through strategic initiatives that helps US in the short and long term.
There goes the sovereign credit rating of the United States of America...
If this ONLY amounts to the Fed lending money and taking their toxic collateral, it will only cost us about $2trillion in inflation (that's spread across EVERYONE). This is the best possible outcome.
If the Taxpayer actually has to make up the difference between "mark to market" and "mark to model", it'll cost us $2-$3trillion directly...every TAXPAYER, which is less than 1/2 the population.
The Dow futures just hit 100. It looks like a market rally tomorrow. Who here is jumping in? (excluding the day traders). Not I....can you say “Dead cat bounce?”
Mortgage business federalized? If the Federal Government owns shares....
I just don’t like where all of this is going. And with Obama as the next POTUS/Socialist Dictator of the USA...
Bookmarked for later reading.
Tomorrow, before the banks open, I’m shorting the Dollar. It’s going into the toilet.