Goverment to Seize Fannie and Freddie

Yeah gateway that is a great video I posted on this site earlier. I love Jim Rogers. Him and Peter Schiff and RP really know what they are talking about. I want to see RPs reaction to this.

reply to post by mybigunit


Waiting for his response as well. Why people don't love a man who tells it like it is, and makes the government so obviously uncomfortable is beyond me..

Then again, I would say maybe 1% of the entire American population understand what happens, and maybe 5% actually researched what happened and 94% either never heard it happened, don't care, says "don't effect me!" or "wow Fox News said this is a good thing, good job guys!!".

Originally posted by Rockpuck
reply to post by mybigunit

 

Waiting for his response as well. Why people don't love a man who tells it like it is, and makes the government so obviously uncomfortable is beyond me..

Then again, I would say maybe 1% of the entire American population understand what happens, and maybe 5% actually researched what happened and 94% either never heard it happened, don't care, says "don't effect me!" or "wow Fox News said this is a good thing, good job guys!!".

Youll love this. I have one in the family (Die hard Republican he is) who says well we as Americans should all chip in to get this situation back in hand. After I quit laughing at his ignorance I explained to him a little bit about free market. Your right most people dont understand the full extent of this and what it does to our wealth. The government will have to turn the printers on high gear and pay interest on it. SO we have to pay the banking industry interest to save their own arse. Pretty sick isnt it?

While I'm happy my stocks, for the most part, went up, I know this will not last at all. This situation has happend before, and not all that long ago. I see the Dow gained 2.59%, NASDAQ .62%, and the S&P gained 2.05% so it was not a terrible day. Investors where happy though, which I find odd. I noticed my Mutuals have not came back up yet but I expect that they will gain before today ends.

I would have thought for sure that investors would be a little bit more iffy today. I've been reading through some of the takeover stuff, but mostly skimming through it. And while it is nice that some investors are happy about it, I don't believe that I've seen what the bailout plan entails. You'd think that would be important but I've probably just missed it, maybe not.

I noticed that financials gained for some reason. I guess people are just ignorant. Even though the market had gained today, and it was better than it could be, I would still be leary of jumping in it. Out of the financials, it appears that only Freddie Mac and Fannie Mae had losses today. Citi, Wachovia, and JP Morgan are a bit suprising. I'd bet Citi will right off more, say $5 billion or so. This article on Yahoo points to the good that could come from this: biz.yahoo.com...

I'm still betting that some companies have not fully wrote of their losses though, Citi being the main one; however, this is just speculation. As I stated earlier, Bank of America and Goldman Sachs should be ok, even though their stocks are still liable to fall if others do. At least the dollar is/was getting stronger.