US Government Takes Over Fannie and Freddie
Just in time for the Asian markets to open and show us how the world should react. This could go anywhere.
For full coverage, I point you to The Big Picture, which provides dozens of great links and articles, including:
- Treasury Takeover of GSEs: 10 Key Points
- Treasury Department Press Release
- Financial Times Commentary
- New York Times Commentary
- Wall Street Journal Commentary
No related posts.
I am a physician. If I make a mistake in judgment, especially when I have been forewarned about the risk, I will be severely punished, perhaps both in court, and even could lose my license to practice, and could even go to jail. So how is it that the CEO’s Mudd and Syron, get golden parachutes for their screw-ups? Why aren’t they being punished and being thrown out onto the street when they saw the mistakes that were being made, and went along with them? They knew they were making poor choices, but did it anyway. For many years those loans weren’t offered because they were bad risks, so how is it that they suddenly became good risks? These disasters happened on their watch, they should take the blame and the punishment. If this were the military, they would be dismissed without a pension, and certainly not with any bonus. Bruce Neu MD