A small news tidbit you might not have read about
At least not if you read the Chronicle.... They buried it in the business section.
If you have any investments that might have been invested in Fannie Mae, or Freddie Mac, you are officially SCREWED. Your entire investment has been wiped out. Vanished. All at the stroke of a bureaucrat's pen. This will DESTROY the markets for the forseeable future. So even if you DIDN'T invest in them, you're STILL screwed.
Remember, they are from the government, and they are here to help....... Run before they "help" you next.
Update: The original link was to a Chronicle reprint of a NY Times story that was published in the business section with little fanfare. Due to contractual obligations The Chronicle can only keep online links to the Times for 24 hours, therefore I have edited the link to point to the original Times story. The Chronicle DID finally get around to noticing the importance of this and published a similar story in Section A today(9/7/08), but not on the front page. No, they put it on page A14.
Update 2: Today,(9/8/08) they finally put it on the front page.
If you have any investments that might have been invested in Fannie Mae, or Freddie Mac, you are officially SCREWED. Your entire investment has been wiped out. Vanished. All at the stroke of a bureaucrat's pen. This will DESTROY the markets for the forseeable future. So even if you DIDN'T invest in them, you're STILL screwed.
Remember, they are from the government, and they are here to help....... Run before they "help" you next.
Update: The original link was to a Chronicle reprint of a NY Times story that was published in the business section with little fanfare. Due to contractual obligations The Chronicle can only keep online links to the Times for 24 hours, therefore I have edited the link to point to the original Times story. The Chronicle DID finally get around to noticing the importance of this and published a similar story in Section A today(9/7/08), but not on the front page. No, they put it on page A14.
Update 2: Today,(9/8/08) they finally put it on the front page.
posted by Rorschach at
9/06/2008 01:03:00 PM
4 Comments:
I heard it on the radio, read it in the paper and it still makes me ILL that we're bailing out foreign interests.
Garbage. Congress should rot in hades!
And someone (many) should probably rot in JAIL !
Nope, no foreign interests are benefiting. Their investments are being wiped out too.
Correction, you're right, they DO plan on making foreign banks whole.
That does piss me off.
Damn straight! Our gov't has sold us out again!
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