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Location: Georgia, on the Florida line, right above Tallahassee
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Freddie Mac fell 18 percent and Fannie Mae dropped 16 percent after Lehman Brothers Holdings Inc. analysts said in a report today that an accounting change may force them to raise a combined $75 billion.
My heart bleeds purple peanut butter for them ! God am I glad my house is paid for.
It'll all come out in the wash. I feel sorry for the poor sots who can't buy and are stuck having to rent, and then get evicted with no notice because the landlord was foreclosed on and didn't bother to give their tenants any heads up to the looming situation.
Might have something to do with their intent to takeon all those high risk loans going to forclosure now. It is estimate even those that will quaLify like 35% will end in foreclosure again.
Location: Georgia, on the Florida line, right above Tallahassee
10,471 posts, read 15,830,626 times
Reputation: 6438
"There is concern and speculation that Freddie, Fannie and Lehman won't be around on Monday," said Phil Orlando, chief equity market strategist at Federated Investors, referring to problems at the nation's largest mortgage purchasers Freddie Mac and Fannie Mae....
Lehman Brothers shares continue to plunge (http://money.cnn.com/news/newsfeeds/articles/apwire/59e390d542252e7203ad581c1ba997fa.htm - broken link)
If this happens, its game over America. Either way, its going to get EXTREMELY ugly. A bailout will likely bring hyperinflation (think $300 oil). The writing is on the wall. Lets look in the bright side - soon all the illegal immigrants will be returning home, and some of us might be following them.
If this happens, its game over America. Either way, its going to get EXTREMELY ugly. A bailout will likely bring hyperinflation (think $300 oil). The writing is on the wall. Lets look in the bright side - soon all the illegal immigrants will be returning home, and some of us might be following them.
Could you elaborate on this? I got an email from a friend of mine telling me to sell my house NOW! I am not quite sure what good this would do, as my house is paid for and don't I need a place to live? Besides, there is no good place to invest money, near as I can tell.
Anyway, can anyone put this whole thing in detail for me? I've heard it's all over, but have yet to hear exactly why.
I'll bet there will be a surprise announcement on Monday regarding Fannie and Freddie just like Bear. Then the markets will rejoice.
This is truly a slow crash and not a fast crash. I think the Fed still has enough reserves to keep this dream going til fall.
I have heard that the government is doing everything it can to keep this house of cards propped up until after the Presidential election. That is why all the emphasis is on housing and none on the dollar and oil prices.
What does this mean? Are you saying America will cease to exist?
No, its game over for the American economy. Whats coming will make the Great Depression look like a mild 2001-like recession. The nearest thing I can think of to compare whats coming to is post-Soviet collapse Russia.
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