Category Archives: subprime

Fannie and Freddie

How are Fannie and Freddie linked to the housing crisis and why did they do it? By April 2008, according to a document prepared for then-Fannie Mae CEO Daniel Mudd and marked “Confidential — Highly Restricted,” Fannie’s $312 billion in … Continue reading

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How much is a dollar worth?

“Dr. Doom”, Marc Faber believes $700 billion isn’t close to enough. Marc Faber, editor & publisher of ‘The Gloom, Boom & Doom Report’, told CNBC’s Asia Squawk Box on Friday, he doubts that $700 billion would make any difference when … Continue reading

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Washington Mutual closed by government

Perhaps the closing of Washington Mutual by the government, the largest US bank failure ever, will spur our lawmakers to act on the bailout bill.

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Buffett: …”Wall Street has been kind of a nudist beach”

Buffett says the economy isn’t likely to improve until 2009… Warren Buffett said the U.S. economy is unlikely to improve before 2009, and there was a “reasonable chance” that Fannie Mae (FNM.N) and Freddie Mac (FRE.N) shareholders would be wiped … Continue reading

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Greenspan Says Housing Prices Not Yet Near Bottom

Former Federal Reserve Chairman Alan Greenspan said falling U.S. home prices are “nowhere near the bottom” and the resulting market turmoil isn’t showing signs of abating. Read the article here. That said, REMEMBER this is the same idiot that called … Continue reading

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Freddie to sell up to $10 billion in stock

Inquiring minds want to know, who in the heck would buy it? What kind of financial incentives or government armtwisting is going on behind the scenes? From the WSJ e-mail I just received (this link may work for non-subscribers)… Mortgage … Continue reading

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