Breaking news.... http://www.nytimes.com/2008/09/06/business/06fannie.html?_r=1&hp&oref=slogin Thoughts on what this means for Monday?
condorll, I think then there was hope for the preferred to still have value...now all equity will be wiped out. However maybe with the expected impact on housing from this news, maybe we will rally Monday.
Geezus, this will not have any effect on those who are already struggling to pay their mortgages. Who the fuck cares about those who hold the debt and the preferred stocks of these idiotic companies? I say, fuck 'em! Why don't these same assholes do something more constructive for once, like increasing the unemployment benefit for those who are actually hurting at the moment?!
I honestly can't believe what has transpired here. US tax payers foot the bill for douche bag lenders and borrowers. I guess its the only way but ultimately who gets punished here besides the tax payer. The biggest problem with this entire situation is there is Sooooooooooooo many people to blame that you can no way single any one entity or person out for getting us into this crap. Nuts i tell ya! Does this mean the housing market is gona be fucked for another 10 years?
They should confiscate some of these CEO bonuses and use them to fund another tax rebate. Not that I'm for the redistribution of wealth, but if you're partially responsible for this mess you definitely don't deserve shit to begin with
I agree, Bear execs, angelo mazilo, fannie and freddie execs. The all need to fork up any equity they cashed out on.
http://www.bloomberg.com/avp/avp.ht...//media2.bloomberg.com/cache/vfRR9xlgAMNU.asf I notice that he never acknowledges that the money that he so cavalierly say ths treasury should disgorge (to bail him out) is "TAXPAYERS" money. Someone should take his head and paste it in to this commercial, "Somebody help me"! http://www.youtube.com/watch?v=hn5EP9StlVA
Well the problem is Gross can say and blabber about whatever the hell he wants to help his cause. The govt does NOT have to listen to him. Fuck Pimco.