http://www.forbes.com/2008/07/11/dodd-fannie-freddie-biz-wash-cx_bw_0711housing.html
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a7gQ4D5KgrIQ
http://www.pbs.org/newshour/updates/business/july-dec08/paulson_07-11.html
http://www.independent.ie/business/world/departing-paulson-says-no--bailout-for-fannie-and-freddie-1452477.html
Well that’s all folks! Bailout done and done!!
Privatizing Profits & Socializing losses:
Bailing out homeowners who borrowed way more than they could ever repay
Bailing out banks that were downright reckless while issuing these loans
Bailing out the investment banks that created a CDO web so complex that they don’t know what they own, let alone value these securities.
And finally making the tax payer the paymaster of the whole catastrophe!
Talk about long term damage to integrity of the financial system!!!
2008 has been a year of immense strain for world financial markets, one shock after another, with no end to the bad news in sight. Sunday’s actions make the Bear Stearns debacle look like child’s play. Each shock is worse than the last one, and the men at the helm continue to reassure us that everything’s under control. Imagine if things took a turn for the worse!!!
The one thing I found really incredible was the continued strength in the USD and weakness in Precious metals even after the announcement.
National debt is going through the roof, the housing market continues to seek lower levels, inflation and unemployment are rising!!! and no one seems to care, and the USD rally continues
Well, what’s coming up next?
Will we see the GSE’s now shrink their Mortgage Portfolios?
How will this impact the housing market?
Can they issue shares to the Treasury in the future if they can’t pay up on promised Preferred stock dividends?
Are we going to see a rate cut from the FED?
So who’s next Washington Mutual or Lehman Brothers?
_______________________________________________
BIG PICTURE covers it well.
http://bigpicture.typepad.com/comments/2008/09/fannie-freddi-2.html
Well, if the bailouts not enough, the lets tweak the taxation laws for the GSEs
http://www.nakedcapitalism.com/2008/09/paulson-gives-fannie-and-freddie-tax.html
Well the shares are now where they should be! Heres who owns them/ did until a few months ago!!!
http://blogs.wsj.com/deals/2008/09/08/who-is-taking-the-big-hits-on-fannie-freddie-shares/
Jim Rogers on the Bailouthttp://www.moneymorning.com/2008/09/06/jim-rogers-book/
US Is "More Communist than China": Jim Rogers
http://www.cnbc.com/id/26603489
Other links worth a read
http://seekingalpha.com/article/94218-8-quick-comments-on-the-freddie-fannie-bailout-plan
http://www.nakedcapitalism.com/2008/09/ny-times-fannie-freddie-nationalization.html
http://www.nakedcapitalism.com/2008/09/freddie-fannie-notable-comments-mainly.html
http://www.financialarmageddon.com/2008/09/one-of-many-sca.html
http://www.financialarmageddon.com/2008/09/dont-say-you-we.html
http://www.bloomberg.com/apps/news?pid=20601087&sid=aQwEq.iCBzMk&refer=home
http://www.ft.com/cms/s/0/b349ff60-7cd8-11dd-8d59-000077b07658.html?nclick_check=1
http://www.ustreas.gov/press/releases/hp1129.htm
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