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How Fannie Mae (FNM) and Freddie Mac (FRE) crashed crude oil prices

Posted August 23, 2008

"Financial stocks bottomed (for now) on that date - which makes sense. But the next part doesn’t make sense. Crude oil prices peaked on July 15. What does the U.S. government bailing out financial institutions have to do with the oil market?" — Rick Pendergraft

by Rick Pendergraft

Baltimore — (TFN): Over the last month, the intertwined relationships of the markets have been wacky, to say the least. On July 15, the SEC announced its protection plan for Fannie Mae (FNM), Freddie Mac (FRE), and 17 banks and brokerage firms. This move totally disrupted the natural ebb and flow of the market.

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Financial stocks bottomed (for now) on that date - which makes sense. But the next part doesn’t make sense. Crude oil prices peaked on July 15. What does the U.S. government bailing out financial institutions have to do with the oil market?

When the government stepped in to protect those financial stocks, the dollar rallied. Read on to learn more.

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Posted by Rick Pendergraft · Filed Under Oil and Energy 

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