Mike Pouraryan
FANNIE & FREDDIE
July 14th 2008 05:39
Fannie Mae and Freddie Mac have, as the Financial Times put in in its' July 12, 2008 edition, "feeling unwell". It appears that U.S. Government Officials worked through the week-end to work out a bailout plan. It has been annoucned that the Fed will extend its' lending capacity to help out the Housing Cousins and that the Government will buy equity if necessary in them. The failure of the Housing Cousins would have further undermined the fragile economy we have before us. It sure appears that talking up the economy did not help the cousins at all. If this "mental recession" is not really true, then I wonder what else will allow guys like Phil Gramm realize that the recession and the economic problems are real. Of course, Mr. Gramm was thrown under the bus by Senator McCain.
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