Saturday, August 30, 2008

Fannie/Freddie Debate on Fox

What will the Treasury to do with the two GSE's?

This is a great debate. They also discuss the bank failure situation and the ability of the FDIC to guarantee the depositors.

Whatever path the Treasury decides to take with the GSE's, it looks like its going to be really bad for the housing and stock market. Feel free to share your ideas on how to fix this mess in the comments section. I don't see an answer myself!


Jeff said...

Gustav is growing into a monster. It is now a category 4 storm. We might have a Cat 5 by tonight swirling into the gulf.

The predicted path has it slamming right into the right into the oil rigs.!

HAVANA - Gustav howled into Cuba's Isla de Juventud as a monstrous Category 4 hurricane on Saturday while both Cubans and Americans scrambled to flee the path of the fast-growing storm.

Forecasters said it could gain yet more power, becoming a top-scale hurricane with 160 mph winds in the Gulf of Mexico on Sunday, before weakening a little ahead of a likely collision on Monday with the U.S. coast.

More than 240,000 Cubans were being evacuated — some hurriedly — as the storm bore down on the nation's tobacco-rich western tip. Across the Gulf of Mexico, Americans made wary by Hurricane Katrina streamed out of New Orleans and other coastal cities.

Gustav already has killed 81 people by triggering floods and landslides in other Caribbean nations.

Lights flickered in Cuba's capital as shrieking winds blasted sheets of rain sideways though the streets and whipped angry waves against the famed seaside Malecon boulevard. State television stations went dark several times.

The U.S. National Hurricane Center said Gustav had sustained winds of 145 mph — with higher gusts — as the heart of the storm began hitting Cuba's outlying island province of Isla de Juventud, where officials cut power to many areas.

Minton Mckarkquey said...

Jeff - just saw this one from BBC News (

The UK is facing its worst economic crisis in 60 years, Chancellor Alistair Darling has admitted.

He told the Guardian newspaper that the economic downturn would be more "profound and long-lasting" than most people had feared.

The chancellor admitted the government had "patently" failed to get its message across that it understood people's concerns about rising living costs and growing job insecurity.

"We, along with every other country in the world, face a unique set of circumstances where you've got the credit crunch coming at the same time with high oil and food prices."

Jeff said...

Hi Minton

Yeah I put that up in the forum. Thats a hell of an article.

Its amazing how much more realistic they are over there.

Its quite a different opinion versus our treasury isn't it?

opportunistic said...

"Feel free to share your ideas on how to fix this mess in the comments section."

"Jeff said...
Gustav is growing into a monster.."

100,000's of homes are destroyed, insurance pays for their replacement, demand for homes increases, prices stabilize. Jeff you are a genius. We are going to natural disaster our way out of the housing slump. Probably the best idea I've come across.

Of course we'll probably keep rebuilding New Orleans et al every 3 years.

Jeff said...



Frickin hilarious....

If we can only get a Cat 5 hurricane to swirl through Vegas, Stockton cali, and Miami the housing crisis would be solved!

I think Gustav needs to rotate into Wall St. They deserve it!