for those moaning about low treasury yields, be careful for what you wish for http://money.cnn.com/2008/04/14/news/economy/fannie-risks.ap/index.htm?source=yahoo_quote
saw this come out yesterday. but i guess the USA will have to decid what is more important, AAA rating or backing the GSE's which they have not backed yet. does not seems like a big deal. Just like MBI and ABK the rating wont be cut until they are giving plenty of time to fix themselvs up
It's hilarious and sad and the same time. It's hilarious because it confirms what we've been saying about the incompetence of our government and (privately owned) federal reserve for a long time. And it's sad because it confirms what we've been saying about the incompetence of our government and (privately owned) federal reserve for a long time. For every extra dollar you give these idiots, they manage to borrow and incompetently spend a thousand more.
"Don't Worry Be Happy" As part of Paulson's regulatory fix-it-up plan he will having all ratings (and agencies) managed under FED control. p.s. USA debt will = AAA <object width="425" height="355"><param name="movie" value="http://www.youtube.com/v/yjnvSQuv-H4&hl=en"></param><param name="wmode" value="transparent"></param><embed src="http://www.youtube.com/v/yjnvSQuv-H4&hl=en" type="application/x-shockwave-flash" wmode="transparent" width="425" height="355"></embed></object>