boy, do I want some people to get their nuts held to the fire for the Freddie / Fannie mess...firstly Angelo Mozilo
1st half of 2011 may get interesting as it appears the chickens (CDO's) are headed home to roost http://www.cnbc.com/id/39758253 http://www.cnbc.com/id/39737924?par=RSS RN
The markets ignoring all this is eerily similar to 2007. Hard to believe but it's playing out again..
Recipients of Fannie Mae and Freddie Mac Campaign Contributions, 1989-2008 Top 3 Dodd, Christopher J S CT D $165,400 Obama, Barack S IL D $126,349 Kerry, John S MA D $111,000
Personally, I'm finding it easier to believe because I felt damn sure the Fed was feeding the market its TOMO/POMO back then on a constant basis while commodities went parabolic, the dollar went in the crapper and the market flatlined. It's their "backdoor" mandate and it's the kind of shit true believers will call you all sorts of names for mentioning. The difference between 2010 and 2007 is that a bigger slice of the population truly saw that the emperor has no clothes during those meltdown episodes in 2008 and 2009, so this time around people view asset re-flation with a far more cynical eye. Plus, it always helps to thin out the herd when you want to set asset prices at pre-determined levels.
I wonder (not really) if this will further dry up what credit is currently availableâ¦.. Which will possibly be one of the impetuses resulting in a major turn Not saying this is a forgone conclusion â just sharing bits from one of my âcontingency plansâ â to extrapolate out if youâre so inclined RN
Becoming apparent why the financials werenât rallying with the rest of the market now http://www.newsinferno.com/consumer...mess-could-lead-to-bigger-financial-problems/ http://news.yahoo.com/s/nm/20101116/bs_nm/us_usa_foreclosures_4 2011 may get really ugly RN
The herd has moved on, leaving in its a wake, dust & piles of dog crap. Yes it may get ugly but I doubt anyone on Wall Street has given this a second thought, ancient history to WS.