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CNN: Time to consider the 'doomsday scenario'

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CNN: Time to consider the 'doomsday scenario'

Unread postby KevO » Fri 11 Jul 2008, 08:04:14

peach!
Graet news.

Who TF are Fanny and Freddie?

$this->bbcode_second_pass_quote('', 'N')EW YORK (Fortune) -- Here's a scary, and relevant, question to ponder as the housing market continues to slide: What would it take for the government to step in and help Fannie Mae and Freddie Mac, and how would a rescue affect you, the taxpayer?

It's been a brutal week for Freddie (FRE, Fortune 500) and Fannie (FNM, Fortune 500). A Lehman analyst report Monday kicked off a stock rout that had shares in both companies hitting fresh multi-year lows Thursday. Freddie plummeted 22% Thursday, to $8.00 a share; Fannie was down nearly 14%, to $13.20.

The beating is likely to continue Friday. Freddie shares were down 33% and Fannie was off another 27% in premarket trading.

The stock plunge, together with Fed Chairman Ben Bernanke's downbeat housing outlook on Tuesday, is forcing investors to consider what would happen if a bailout is needed - a prospect raised Thursday when William Poole, the former president of the St. Louis Federal Reserve, told Bloomberg the companies are already "insolvent."

Also on Thursday, The Wall Street Journal reported that officials at the U.S. Treasury Department have been monitoring the companies for months as part of its normal contingency planning, but that discussions about what to do should they collapse have picked up in recent weeks.
A grim outlook


more at CNN
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Re: CNN: Time to consider the 'doomsday scenario'

Unread postby MyOldTDiIsStillGoing » Fri 11 Jul 2008, 08:10:24

$this->bbcode_second_pass_quote('KevO', 'p')each! Graet news. Who TF are Fanny and Freddie?
$this->bbcode_second_pass_quote('', 'N')EW YORK (Fortune) -- Here's a scary, and relevant, question to ponder as the housing market continues to slide: What would it take for the government to step in and help Fannie Mae and Freddie Mac, and how would a rescue affect you, the taxpayer? ... Text deleted.A grim outlook
more at CNN

Ah, a lesson on these United Socialist of America: Fannie and Freddie are part of the US HUD department. (Housing and Urban Development) of the federal government. They are federal backed loans to assist with the bank in the "upfront" moneys and in case the loans go into receivership.

This is a quick overview.
Last edited by Ferretlover on Fri 04 Mar 2011, 23:37:33, edited 1 time in total.
Reason: Deleted excessive requote text.
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Re: CNN: Time to consider the 'doomsday scenario'

Unread postby frankthetank » Fri 11 Jul 2008, 08:24:44

.........one, two Freddies coming for you
.........three, four better lock the door
..........five, six grab your crucifix
..........seven, eight stay up late
.........nine, ten never sleep again

Time to work on the flux capicator... I need to get back to '85 asap..
lawns should be outlawed.
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Re: CNN: Time to consider the 'doomsday scenario'

Unread postby jlw61 » Fri 11 Jul 2008, 08:48:12

$this->bbcode_second_pass_quote('', 'N')EW YORK (Fortune) -- Here's a scary, and relevant, question to ponder as the housing market continues to slide: What would it take for the government to step in and help Fannie Mae and Freddie Mac, and how would a rescue affect you, the taxpayer? ... A grim outlook

And before anyone starts shouting about Tipping Points. No, this is not the tipping point. The Feds will step in, put together some mumo-jumbo paper work, say a few soothing words and let a few chips fall where they may (for show, mostly to prop up the Market).

GW and his criminal gangs are going to do anything and everything to keep the economy propped up until Jan 20, 2009. After that is anyone's guess.

Does anyone wish to buy a country? Great deals are available on:

California - ignore the fires, it's just one of those years
Florida - ignore the beaches going under water, its nothing
West Virginia - you have to agree to take the people also
New York - we keep the baseball team
Lousiana - New Orleans is fixed up... no, no, REALLY, it is!
When somebody makes a statement you don't understand, don't tell him he's crazy. Ask him what he means. -- Otto Harkaman, Space Viking
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Re: CNN: Time to consider the 'doomsday scenario'

Unread postby Olle » Fri 11 Jul 2008, 09:09:55

$this->bbcode_second_pass_quote('jlw61', 'D')oes anyone wish to buy a country? Great deals are available on:
California - ignore the fires, it's just one of those years
Florida - ignore the beaches going under water, its nothing
West Virginia - you have to agree to take the people also
New York - we keep the baseball team
Lousiana - New Orleans is fixed up... no, no, REALLY, it is!

Can we buy back Alaska? / Mr Putin
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Re: CNN: Time to consider the 'doomsday scenario'

Unread postby hope_full » Fri 11 Jul 2008, 09:11:21

And what's wrong with West Virginia? I happen to LIKE West Virginia. Beautiful place, interesting history and plenty of people who know how to live off the land. Heck the federal government had their secret bunker in White Sulphur Springs, WV for years and years and years, because it was such an ideal location in the event of nuclear holocaust!

Almost heaven!
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Re: CNN: Time to consider the 'doomsday scenario'

Unread postby MyOldTDiIsStillGoing » Fri 11 Jul 2008, 09:19:50

$this->bbcode_second_pass_quote('hope_full', 'A')nd what's wrong with West Virginia? I happen to LIKE West Virginia. Beautiful place, interesting history and plenty of people who know how to live off the land. Heck the federal government had their secret bunker in White Sulphur Springs, WV for years and years and years, because it was such an ideal location in the event of nuclear holocaust!

Almost heaven!


And Robert Byrd's name on every road, bridge, building, park, and house in the state.
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Re: CNN: Time to consider the 'doomsday scenario'

Unread postby KevO » Fri 11 Jul 2008, 09:33:49

$this->bbcode_second_pass_quote('hope_full', 'A')nd what's wrong with West Virginia? I happen to LIKE West Virginia. Beautiful place, interesting history and plenty of people who know how to live off the land. Heck the federal government had their secret bunker in White Sulphur Springs, WV for years and years and years, because it was such an ideal location in the event of nuclear holocaust!

Almost heaven!


yeah and John Denver loved it
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Re: CNN: Time to consider the 'doomsday scenario'

Unread postby hope_full » Fri 11 Jul 2008, 09:36:43

And what's wrong with West Virginia? I happen to LIKE West Virginia. Beautiful place, interesting history and plenty of people who know how to live off the land. Heck the federal government had their secret bunker in White Sulphur Springs, WV for years and years and years, because it was such an ideal location in the event of nuclear holocaust!

Almost heaven!
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Re: CNN: Time to consider the 'doomsday scenario'

Unread postby Armageddon » Fri 11 Jul 2008, 09:39:22

" GW and his criminal gangs are going to do anything and everything to keep the economy propped up until Jan 20, 2009. After that is anyone's guess. "


========================================


I really don't think they can hold it off that long. October is D-Day from what I am hearing.
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Re: CNN: Time to consider the 'doomsday scenario'

Unread postby Olle » Fri 11 Jul 2008, 09:43:55

$this->bbcode_second_pass_quote('hope_full', 'A')nd what's wrong with West Virginia? I happen to LIKE West Virginia. Beautiful place, interesting history and plenty of people who know how to live off the land. Heck the federal government had their secret bunker in White Sulphur Springs, WV for years and years and years, because it was such an ideal location in the event of nuclear holocaust!

Almost heaven!


http://youtube.com/watch?v=nsAVwgHchoE
:-)
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Re: CNN: Time to consider the 'doomsday scenario'

Unread postby ROCKMAN » Fri 11 Jul 2008, 10:29:24

Since we're keeping thigs light I'll throw in a perspective on acquiring California: saw a report which showed that if you broke the world up into oil consumers subcompartments, Cal is the 4th largest oil consumer on the planet. So if you're going to make a bid you better start getting those oil producting algae into high gear.
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Re: CNN: Time to consider the 'doomsday scenario'

Unread postby emailking » Fri 11 Jul 2008, 10:50:38

$this->bbcode_second_pass_quote('frankthetank', '
')
Time to work on the flux capicator... I need to get back to '85 asap..


I bought the replica.

http://www.bttf.net/Back_to_the_Future_ ... /21007.htm
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Re: CNN: Time to consider the 'doomsday scenario'

Unread postby burtonridr » Fri 11 Jul 2008, 13:09:50

LOL so I just took a survey off that CNN article page...

I answered a whole bunch of questions about myself, then it started getting the real survey and they asked...

are you the primary investment decision maker in you house...YES

other than employer sponsored 401k, do you currently own any mutual funds or stocks?.....NO

Do you plan to purchase stocks or mutual funds in the next 12 months?..... NO

Then it replied, "thank you our quota for participants such as yourself have been filled"

:lol:

Yea..... Its getting that bad :lol:
Tired of high gas prices? [smilie=BangHead.gif] Then stop driving to work, duh..... Learn to Work from home

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Re: CNN: Time to consider the 'doomsday scenario'

Unread postby Zardoz » Fri 11 Jul 2008, 13:29:39

$this->bbcode_second_pass_quote('ROCKMAN', '.')..saw a report which showed that if you broke the world up into oil consumers subcompartments, Cal is the 4th largest oil consumer on the planet...

Wow. I guess I shouldn't be surprised by that little stat, though. If California was a sovereign nation, it would have, depending on how you do the calcs, either the 6th, 7th, or 8th-largest economy in the world.

We're going to get our butts kicked so hard when Peak Oil really sets in...
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Re: CNN: Time to consider the 'doomsday scenario'

Unread postby ROCKMAN » Fri 11 Jul 2008, 13:41:36

Zardoz,

You may have it upon a key. If Cal were to succeed they could go to the IMF and plead on the basis of "too big to fail" and the world would bail them out.

Hey...it worked for B Sterns
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Re: CNN: Time to consider the 'doomsday scenario'

Unread postby jedinvest » Fri 11 Jul 2008, 17:41:26

$this->bbcode_second_pass_quote('Zardoz', '')$this->bbcode_second_pass_quote('ROCKMAN', '.')..saw a report which showed that if you broke the world up into oil consumers subcompartments, Cal is the 4th largest oil consumer on the planet...

Wow. I guess I shouldn't be surprised by that little stat, though. If California was a sovereign nation, it would have, depending on how you do the calcs, either the 6th, 7th, or 8th-largest economy in the world.

We're going to get our butts kicked so hard when Peak Oil really sets in...


I thought Cal was just the engineering and marketing departments for China?? When China goes under, man (or woman): Are we screwed!
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Re: CNN: Time to consider the 'doomsday scenario'

Unread postby shortonoil » Sat 12 Jul 2008, 21:42:36

Zardoz said:

$this->bbcode_second_pass_quote('', 'W')e're going to get our butts kicked so hard when Peak Oil really sets in...


Look right, look left; do you see a house that isn’t for sale. Cali is already getting its butt kicked. It just going to get kicked a whole lot harder down the road.

By Christmas - it should be a real HO HO time!
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