Fannie Mae & Freddie Mac Destroy the Dollar

Posted July 14, 2008

“Fears that the two U.S. mortgage giants, Fannie Mae and Freddie Mac, were on the verge of collapse has seen commentators shrieking about the end of capitalism as we know it. And perhaps they weren’t far wrong.” — David Stevenson

by David Stevenson

Baltimore – (TFN): If you had to come up with names for some of the four horsemen of the financial apocalypse, you might opt for some grisly economic terms, like “inflation”, or “depression”. Or if you’re of a more creative bent, you might opt for “hubris”, or plain old “greed.”

But whatever your literary preferences, it’s probably fair to say that the names “Fannie” or “Freddie” wouldn’t get a look in.

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It’s a conspiracy… but this time you’re in on it.

Hot Stock Confidential.

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Yet fears that the two U.S. mortgage giants, Fannie Mae and Freddie Mac, were on the verge of collapse has seen commentators shrieking about the end of capitalism as we know it. And perhaps they weren’t far wrong.

The U.S. government has been working on a bail-out for the companies all weekend, which it finally unveiled last night. But as usual, the government intervention is just storing up bigger problems for the future… Read on to learn why.

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Posted by TFN-US · Filed Under US Stocks and Markets

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Michael 4 months ago 1 point
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This bailout of Freddie and Fannie is counterproductive. Another congressional initiative, the Mortgage Bailout, will tax Freddie and Fannie to the tune of $530 million/ YEAR. So Congress wants to bail out an institution and tax it as well? What’s going on? Call your senators/representatives and tell them: Back off the Mortgage Bailout Bill and Back off Bailing out Fannie and Freddie Mac!
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