Economy

The old adage goes that on a Parents Day, a class of children brought their parents in to school. A few parents got up in front of the class to explain what they did for a living. One woman was a firefighter. One man was a baseball player.…

Chief North American economist David Rosenberg said the following about the Bush Administration's fiscal response to the credit crisis:We are nervous that we have ended up following in Japan's footsteps due to the inept fiscal response to…

The situation with Fannie and Freddie is coming to a head soon. Here are a few links on the chatter in the markets and on the blogosphere:Fannie, Freddie `Insolvent' After Losses, Poole Says - BloombergU.S. Mulls Future of Fannie, Freddie -…

According to a Wall Street Journal report, the Treasury is concerned enough about the viability of Fannie and Freddie that they have discussed contingency plans in the case of potential bankruptcy.Given the level of risk these two are…

For those of you who care at all about what's going on in the world outside of your own country, there are a lot of countries in the throes of economic havoc. So, don't feel alone; you have plenty of company - South Africa included.Housing…

How many AAA companies do you know of that have seen 80% declines in their market value?Two that I can think of:Fannie Mae (FNM)and Freddie Mac (FRE)

One reason many pundits feel this particular downturn will be quite nasty is the level of debt consumers have versus their savings. Since July 1982, when the stock market bottomed, Americans have been dis-saving and leveraging up like…

From all accounts, it looks like Australia is set for a wicked slowdown. Four global industrial economies have been protected by commodity prices. They are Canada, New Zealand, South Africa and Australia. This Goldilocks scenario looks…

Latest Major Bankruptcy News 2007 06 13 IndyMac Sued Over Investor Claims It Hid Loan Losses 2008 06 30 IndyMac to Trim Operations, Not Shut Down, Perry Says 2008 07 01 IndyMac Chief Financial Officer A. Scott Keys Resigns 2008 07 07…

$75 billion is the capital shortfall that Fannie Mae and Freddie Mac are facing, according to a report by Lehman Brothers. This type of worry is the reason for their sudden fall in the markets yesterday.Fannie Mae and Freddie Mac triggered…