Friday, July 11, 2008

All Right, Who Did It?

Okay, who did it?

I've warned you all repeatedly not to ask, even rhetorically, how much worse thing can get with this pack of idiots in office. But obviously someone wasn't listening. I picked up today's New York Times to discover that the two biggest mortgage companies, Fannie Mae and Freddie Mac are on the ropes-- so bad that the Federal government might have to bail one or both companies out.

To make matters worse, the bad news battered the stock market, which has already taken a beating in recent months. Oh, and oil prices, which had eased a bit in the last few days, went up again to yet a new record.

Do you ever wonder if Federal Reserve Board chairman Paul Bernanke feels like he knows what Titanic Captain Edward Smith felt about a half hour after the Titanic hit the iceberg?


Mnmom said...

I saw that today too, and thought "Oh, yes, let's put them in the hands of the Bush Administration!! They'll make it ALL BETTER!"

Erik Donald France said...

The world turned upside down. Glad to be renting, and may soon cash out a la Fight Club.

Conventional wisdom is not wisdom at all -- it's trickery.

Dr. Monkey Von Monkerstein said...

Damn, I never realized how much they looked alike!

Johnny Yen said...

I know-- those guys must stay up late at night dreaming up new ways of f*cking up, I swear!

I remember the way my ex-wife kept pushing to buy and how I was unable to-- my credit was a mess. Now I'm glad. Here in Chicago, like a lot of places, homes have done the unthinkable and the unbelievable-- they've lost value and equity.

Dr. Monkerstein-
My god, I didn't even notice it until you mentioned it. If he puts on a white hat and suit, I'm going to get really worried.