SAY IT! SAY IT!
Even Sam Kinison knows the answer and he's dead.
As week speak the financial world is a dropping a collective load in their pants over Fannie and Ginnie Mae.
Here are some links that will give you the rundown on what is going on.
Woes at Loan Agencies and Oil-Price Spike Roil Markets
Fannie’s Unofficial Safety Net: the U.S.
Paulson: Keep Fannie and Freddie in current form
I am going to say what is already on everyone's mind.
THERE WILL BE NO BAIL OUT!
Jim Kramer was ranting about how the banking system was being dismantled and the government did not have a clue on how to take care of it.
I am sure Bernanke and Paulson know what is happening. But the problem is not a lack of action. The problem is the following: THERE IS NO F**KING MONEY!
It has been like that for quite awhile. Remember the Tsunami of 2004?
When the time came to collect money for the needy, the US could barely match their counterparts. Why? Maybe because the US has been blowing their wad on this matter in the Middle East.
It is all crash and burn from this point on.