Tag archive for ‘Meltdown’
The Obama Gaffe
With some of America’s largest and most prestigious financial institutions undergoing a threatening liquidity meltdown, Democratic presidential nominee Barack Obama has not hesitated to seize the opportunity to exploit the situation for political gain. Despite being the second largest recipient of Fannie Mae and Freddie Mac political donations in the entire United States Congress, he [...]
Stock Market Meltdown, Bank Failures, and Recession! Oh my!
Last week, the stock market shredded almost 20% of its value, and briefly looked as if the Dow Jones Industrial Average would march to 7000, a number that would bring the market’s value down to almost 50% from its high a year ago. Panicked investors continue to be frenzied as they worry about the value of their 401K’s, IRA’s, and government savings plans, selling in droves and fleeing for the safety of US Treasury Bonds; bonds which are almost worthless in their yields at the moment as demand for bonds far outstrips supply. In the time of market panic - cash is king. Many Americans are asking, however, why this is happening? They were told the Bail Out “rescue” plan would avoid Financial Armageddon! Why then does the market continue to be driven downward, and the credit market continue to be seized?
Price tag for Government led Wall Street Bailout… $1.3 trillion… saving the US Economy from collapse… Priceless
As a conservative - I’m willing to pay the 1.3T dollars to save the US economy… just like I was willing to spend over a trillion dollars fighting for freedom in Iraq, Afghanistan, and in the Global War on Terrorism. This threat to the United States needed to be dealt with and in a logical way… because stability in the US markets is priceless.
Home Mortgage and Financial Turmoil Continues, is the end in sight?
Is this the end? Only time will tell - but it seems we’re in for another round of government intervention, emergency lines of credit, and Fed acrobatics.
Unwinding Mess - IndyMac, Freddie Mac, and Fannie Mae
On Friday, the first unavoidable evidence that the credit crunch continues burst forth to center stage. The Office of Thrift Supervision (OTS) and the Federal Depositors Insurance Corporation (FDIC) were forced to take control of IndyMac Bancorp, Inc. IndyMac’s failure marks one of the largest bank failures in history, and is the largest bank failure [...]
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