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View Diary: Federal Home Loan & Mortgage Corp is BANKRUPT(updated) (43 comments)

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  •  some info at cnn money (4+ / 0-)

    there's this from this AM, and another titled something like "WH mulls Fannie mae, Freddie mac failure" from yesterday that fell off the top stories list.

    The gist is that a failure of these giants means complete freeze up of the housing market, unless the buyer pays cash on the nail, i presume. that's huge. As in hitting an iceberg huge.

    With GM in similar straits, we're looking at the kind of collapse we haven't seen in seveny years.

    Runs on banks are not tinfoil fears any longer.

    On Liberation Day, 1/20/09, Americans will greet us with flowers and candy

    by kamarvt on Thu Jul 10, 2008 at 08:43:29 AM PDT

    [ Parent ]

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