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This is a precursur of things to come
After Mao drove the Nationalists off the Mainland in 1949, the cry went up among U.S. conservatives, "Who lost China?"
Now Washington might well worry about who lost Taiwan as a major investor in U.S. agency securities as the Republic of China has openly questioned their credit quality — even after the federal government has committed hundreds of billions of dollars to bail out mortgage giants Fannie Mae and Freddie Mac.
Beyond that, Washington might well worry that other nations also no longer view its agencies — and now, by extension, the very credit of the United States…
27Oct2008 | The Real Deal | Comments Off | ContinuedNew Report Says Feds Growing Increasingly Likely to Recapitalize Fannie and Freddie
By availing itself of a new housing bill signed into law last month, the U.S. Treasury Department is growing increasingly likely to recapitalize Fannie Mae (FNM) and Freddie Mac (FRE) in the months to come – all on the taxpayer’s dime, the weekly financial newspaper Barron’s reports in its edition yesterday (Monday).
Both shares took another beating yesterday, as Fannie Mae’s stock slid over 22% with a decline of $1.76 to close at $6.15. Freddie Mac, seen by many as the weaker of the two, fared even worse with a decline of over 24%, as shares shed $1.43 to close…
19Aug2008 | Money Morning | Comments Off | ContinuedLand of the Free
We’re in Charles de Gaulle airport, escorting Edward, 14, off to summer camp. A loud siren has gone off. We looked up. No one reacted to it. And then the siren came from another part of the airport. Still, no reaction. Occasionally, people look up from their papers…soldiers with automatic rifles continue their patrols.
Then, we heard a chant. This was not an airport alarm, this was a group of protestors…trying to disrupt the airport. Why? We never figured it out…
It is Independence Day…and Americans have never been more dependent on the kindness of strangers. The foreigners have some…
7Jul2008 | Daily Reckoning | Comments Off | Continued
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