Comments on: famous last words http://sirenschronicles.com/2008/07/13/famous-last-words/ "To announce that there must be no criticism of the President, or that we are to stand by the President, right or wrong, is not only unpatriotic and servile, but is morally treasonable to the American public."-Teddy Roosevelt Fri, 05 Dec 2008 01:24:47 +0000 http://wordpress.org/?v=2.6.5 By: Dusty http://sirenschronicles.com/2008/07/13/famous-last-words/#comment-6810 Dusty Mon, 14 Jul 2008 06:44:26 +0000 http://sirenschronicles.com/?p=2404#comment-6810 There are other banks on the brink of failing as well as Paulson announcing today, on a Sunday, that the Treasury and the Fed will prop up Frannie and Freddie. Its all right though..don't worry, be happy..YEAH RIGHT ASSHOLES!!! And Phil Gramm had the balls to say this economy is fine and its all in 'our heads'. There are other banks on the brink of failing as well as Paulson announcing today, on a Sunday, that the Treasury and the Fed will prop up Frannie and Freddie.

Its all right though..don’t worry, be happy..YEAH RIGHT ASSHOLES!!!

And Phil Gramm had the balls to say this economy is fine and its all in ‘our heads’.

]]> By: fran http://sirenschronicles.com/2008/07/13/famous-last-words/#comment-6796 fran Mon, 14 Jul 2008 03:30:57 +0000 http://sirenschronicles.com/?p=2404#comment-6796 This house of cards is about to come crashing down. Freddie Mac & Fannie Mae- the Government mortgage entities are in big trouble. One economist said this is 100 times worse than the Bear-Sterns failure & the IndyMac meltdown. Freddie Mac is aiming to sell off $US3 billion ($3.1bn) in securities tomorrow following last week's meltdown, in a potentially decisive move to heal shattered investor confidence. The two government-chartered, shareholder-owned giants underpin some $US5 trillion in home loans, and the meltdown in their shares last week raised fears of a worsening of the credit crunch. The prediction that a big failure of these 2 entities will take a solid 5 years to recover. To protect them from liquidity problems, Mr Paulson said the two organisations would get a bigger credit line "temporarily". He did not give details on the amount of the credit line or terms. And to ensure Fannie and Freddie can do their jobs, the Treasury Department would get temporary authority to buy their shares should that be necessary, Mr Paulson said. "We are grateful for the leadership of Secretary Paulson and (Fed) Chairman (Ben) Bernanke," Fannie Mae chief executive officer and president Daniel Mudd said. He urged Congress to deliver "swift passage of the new legislative proposals, as well as the important initiatives underway to assist homeowners and help restore stability to the housing market". "We continue to hold more than adequate capital reserves and maintain access to liquidity from the capital markets," Mr Mudd said. "Given the market turmoil, having options to access provisional sources of liquidity if needed will help to strengthen overall confidence in the market. Here is the link to the article. http://www.news.com.au/heraldsun/story/0,21985,24015628-23109,00.html The US Treasury is having to bail out the huge Government mortgage-- they are bending & creating new rules to try to save themsleves. Bush-o-nomics sure are both interesting & exciting.... The bankers name is *Mudd*.... how ironic is that? frans last blog post..<a href="http://ramblings-fran.blogspot.com/2008/07/no-picnic.html" rel="nofollow">No Picnic</a> This house of cards is about to come crashing down. Freddie Mac & Fannie Mae- the Government mortgage entities are in big trouble.

One economist said this is 100 times worse than the Bear-Sterns failure & the IndyMac meltdown.

Freddie Mac is aiming to sell off $US3 billion ($3.1bn) in securities tomorrow following last week’s meltdown, in a potentially decisive move to heal shattered investor confidence.

The two government-chartered, shareholder-owned giants underpin some $US5 trillion in home loans, and the meltdown in their shares last week raised fears of a worsening of the credit crunch.

The prediction that a big failure of these 2 entities will take a solid 5 years to recover.

To protect them from liquidity problems, Mr Paulson said the two organisations would get a bigger credit line “temporarily”. He did not give details on the amount of the credit line or terms.

And to ensure Fannie and Freddie can do their jobs, the Treasury Department would get temporary authority to buy their shares should that be necessary, Mr Paulson said.

“We are grateful for the leadership of Secretary Paulson and (Fed) Chairman (Ben) Bernanke,” Fannie Mae chief executive officer and president Daniel Mudd said.

He urged Congress to deliver “swift passage of the new legislative proposals, as well as the important initiatives underway to assist homeowners and help restore stability to the housing market”.

“We continue to hold more than adequate capital reserves and maintain access to liquidity from the capital markets,” Mr Mudd said.

“Given the market turmoil, having options to access provisional sources of liquidity if needed will help to strengthen overall confidence in the market.

Here is the link to the article.

http://www.news.com.au/heraldsun/story/0,21985,24015628-23109,00.html

The US Treasury is having to bail out the huge Government mortgage– they are bending & creating new rules to try to save themsleves.

Bush-o-nomics sure are both interesting & exciting….

The bankers name is *Mudd*…. how ironic is that?

frans last blog post..No Picnic

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