All Posts Tagged With: "Kate Incontrera"
Fannie and Freddie: So Much for ‘Free Markets’
Zimbabwe has the world’s highest inflation rate. It’s running at 2.2 million percent. And millions in the country are starving as a result.
Inflation started to spiral out of control in Zimbabwe after the the government of Robert Mugabe began nationalizing farms in 2000.
Bill Bonner says that, although we look at the likes of Zimbabwe with incredulity in the US, we are heading down a similar route with the nationalization of mortgage giants Fannie Mae (FNM) and Freddy Mac (FRE). So much for the biggest ‘free market’ in the world…
Fannie and Freddie Bailout to Cost Taxpayers $25bn
Does the term ‘hemorrhaging money’ mean anything to you?
It should, says Kate Incontrera in The Daily Reckoning.
Because the housing bill approved by Congress yesterday will cost taxpayers $25 billion in fiscal years 2009 and 2010, according to the Congressional Budget Office. And it could wind up costing up to $100 billion in the long term.
The bill is also a major threat to privacy, according to Desidooru Saloon’s Dave Gonigam…
Clean Tech Is the Answer to the Global Oil Crunch
Dan Denning in The Daily Reckoning Australia says the world is facing a global oil crunch. And new ’solutions’ like Canada’s tar sands and Colorado’s shale oil are actually hugely wasteful of energy. We need an real advance in solar technology, says Dan…
One in Ten US Mortgages Owned by Foreigners
The eurozone is sliding into recession, and the US financial crisis is a major contributor.
In particular, the slide of twin mortgage giants Fannie Mae (FNM) and Freddie Mac (FRE) is spooking foreign investors. This is because one in ten US mortgages are essentially held by foreign institutions and governments.
Foreign investors looked on securities in Fannie and Freddie as just as good as US government securities, says Kate Incontrera. So to keep foreign investors in the country Congress has little choice but to back the US Treasury’s Fannie and Freddie bailout plan…
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