Treasury Takes Steps to Bolster Fannie Mae, Freddie Mac

Treasury Takes Steps to Bolster Fannie Mae, Freddie Mac

www.washingtonpost.com

The Federal Reserve also said last night that it is opening its emergency lending window to District-based Fannie Mae and Freddie Mac of McLean. The two firms, if they experience a cash crunch, will now be able to post safe securities at the discount window in exchange for cash, a privilege long held by banks and in the past three months enjoyed by investment banks, too.

(visit the link for the full news article)

Opened the window late Friday. closed it...then..opened it again.

My guy told me to sell. Move your money toward China and India!

I am in the middle of doing that.

www.washingtonpost.com
(visit the link for the full news article)

also biz.yahoo.com...

[edit on 13-7-2008 by whiteraven]

With Fannie and Freddie getting the gov. rescue plan the question is; how far behind this will the dollar be scraped and the Amero brought in? You mentioned either China or India as a place for your money. CNY is gaining on the dollar almost daily, thus a good bet on making a profit down the road.

Should the banking sector slide further south and or there is any more conflicts in the ME that might involve the US and China (Iran), the safer bet would be Euro's. Though trading CNY for Euro's is a better position than the dollar.

Actually the gov has no option other than to bailout Fannie and Freddie. Should either go south the they would in turn pull the entire house of cards down. Not that the banking sector is not already circling the toilet bowl and fixing to go down the drain as is. Their just propping up the system during the election year and most likely flush it early in 09.