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Subprime Crisis Again in the Spotlight as the Meltdowns of Fannie Mae and Freddie Mac Fuel Fears of a Deeper Downturn
We’ve been warning you since the start that the subprime crisis would have some real staying power.
Indeed, every time optimistic prognosticators have predicted an end to this global financial debacle, we’ve had the same response: Don’t you believe it.
Again just recently, after several big banks announced yet another round of major write-offs – all of them related to the subprime crisis, albeit indirectly – analysts, and even some banking-industry executives, said the write-downs were coming to an end.
Once again, we advised readers to avoid losing their heads over such heady optimism. And again, we were right.
The latest victims of the…
14Jul2008 | Money Morning | Comments Off | Continued
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