By: Josh Cantwell
Hey guys, you’ve got to check out the latest article that I wrote regarding Fannie Mae, Freddie Mac, and Indy Mac. There’s some crazy stuff going on that we all need to be aware of. Here’s a sneak peek, but click the link at the bottom to read the entire article in full.
During the past week we’ve heard a ton about Fannie Mae, Freddie Mac and Indy Mac.
Another crisis? Don’t we already have the Iraq War, a resurgent Taliban in Afghanistan, crazy fuel prices, our pals in Venezuela, Russia and Iran thumbing their noses at us, the credit crunch, housing crisis and, lest we forget, global warming?
Do we really need another crisis? How could newspapers be losing so much money with so much terrible stuff going on?
And that’s my point . . .there’s been a tendency for many people to stick their heads in the sand. It just seems too much to absorb.
At first, it’s easy to think that this is part of the endless downward spiral of the housing crisis.
Then I looked at the numbers.
Both of these institutions finance half of the mortgages in the U.S.
Together they owe five trillion dollars.