Talk about panics involving cows and bulls:
There is a real panic about these companies on Wall Street right now, and sometimes a blaze like that grows almost without reason,” said Tom Lawler, an economist who worked at Fannie Mae for over two decades before leaving in 2006 to become a consultant. “There wasn’t really any new news to set off this crisis. The stocks just started falling, and didn’t stop.
. . . and this will have repercussions in Seoul as well that one can not hold a candle to.
{ 10 comments… read them below or add one }
This is what is keeping me up at night instead of worrying if I will die from mad cow.
It’s already showing up in the Korean markets as people are bailing out to cover their losses in the US, what’s it like 25 straight days of net foreigner selling?
I feel that we’re heading into a world wide economic depression, never seen since the 1930′s.
I’m not so sure. Uncle Sam is opening up his personal ‘treasury’ for many of these financial concerns. This should prevent the worst flames from jumping the fire walls. Or we hope.
Not that I agree with what the fed is doing. I think some serious corrections are in order.
No reason? Is this economist kidding? Is this what happens when the currency is debased and the economy distorted by the voodoo economics of the fed.
Well you know that we have a president that denies that we’re even in a recession. Whatever the president says, he’s monkeys will mimic.
Fannie Mae and Freddie Mac have both been building this house of cards for years and now the fruit is ripe for picking. If the government bails them out, this will be a classic case of everyone paying for their mistakes while only a few have profited their gaming.
The South Korean Government had better prepare for the worst case scenario now before it hits.
I think Franklin Raines (a Clinton man, incidentally) ought to get the death penalty.
As if conservative economic policy serves humanity any better. The Few Who Profit are non-partisan. It only looks like they are to us peons who have no hope of attaining those multi-comma income levels and have a need to distract ourselves with petty, party based bickering. I yearn for the day when (if ever) the masses wake up.
weaken the strong doesn’t ever help
weakening*
You must log in to post a comment.