Interest Rate Roundup

Friday, July 11, 2008

The stunning collapse of Fannie Mae and Freddie Mac

I just wanted to say that this Fannie Mae and Freddie Mac situation is rapidly approaching a full-scale meltdown/selling crescendo. The shares of both companies are getting annihilated again this morning, and you have the New York Times talking about the government considering a full-scale take over of one or both Government Sponsored Enterprises. In all my years of following the mortgage and bond markets, I have never EVER seen a bigger story. This is truly, truly a historic moment. I don't know what more to add.


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