Regardless, the markets will tank on this news. Look for a 4% to 6% drop.
On the upside, at least one job is now open.
My husband is an accountant that audits subsidized housing. He works with bankers all the time. I'm naturally frugal, but right before the market news broke, my husband paid off everything he could, and refuses to spend an extra penny right now. He just says it's bad. He says I wouldn't understand the accounting, but he wants to double up for awhile and eliminate all credit cards. He drained our savings and dumped it on things we owe.
He's also on a news boycott. He won't watch it and doesn't want to hear about it. If it's on a TV, he mutes it if he's in the room. He's completly backed off from the politicians.
During the depression, the "rich" were those who had no debt. Everyone else lost everything.
Fanny and Freddie are safe. They have tax slave money at their disposal. Because they're part government, they'll survive on our wages while everyone else fails. That's why this "suicide" seems so odd. The government always feeds itself first.
That's how I read it.
The conspiracy stuff is an unfortunate distraction, since the lesson we outsiders should take from this is the suicidal level of gloom that afflicted someone who has all the inside data.