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This can't be good - 3 top Fannie exec's leaving....

lannypoffolannypoffo
edited August 2008 in The Economy
Somehow this doesn't inspire confidence......

http://www.businessweek.com/ap/financia ... QS6400.htm

Lanny

Comments

  • RobroyRobroy
    The US economy really is like a family budget. But it is more diverse of course. That said, this whole thing is like a family that has been living high on the hog by refinancing into home equity loans, and now the car needs a new transmission, dad got a wage reduction and now we just found out that his company was bought.

    And to make matters worse, the rabbit died - and he just found out he has cancer (but it is treatable).

    Our rich uncle Sam cannot bail out all the banks. As they stuff money into Fannie and Freddie they may have no choice but to, when the day comes, and come it almost certainly will, let WAMU die.

    That may make the local economy take notice. I used to work for WAMU. It seems they occupy half of downtown Seattle, but I exagerate (slightly).
  • SeattleMooseSeattleMoose
    "Meet the new boss, same as the old boss"........Pete Townsend. :evil:
  • RobroyRobroy
    SeattleMoose wrote:
    "Meet the new boss, same as the old boss"........Pete Townsend. :evil:
    In the long run, maybe. But when three top executives of this particular organization step down within the context of the current economy and, more important the stories and information regarding Freddie and Fannie, this is a pretty significant story.

    Even "one at a time" would be significant.
  • TJ_98370TJ_98370
    Same posted on "Freddie Fannie Nail-Biting Continues" thread in Seattle Bubble Forum.
    .
    Fannie, Freddie Fall as Bank of China Reduces its Debt Holdings
    .
    Bank of China flees Fannie-Freddie
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