Sunday, Jul 13, 2008
US Treasury gets the jitters about Freddie Mac
Guardian: US officials check on Freddie Mac securities sale
"The Post said Treasury Department officials on Saturday spoke by telephone with major banks that normally purchase such securities to ensure that these firms still plan to place bids, and they were optimistic the sale would be a success." A sensible precaution but also a sign of how nervous the US is.
Posted by quiet guy @ 03:51 PM (853 views) Add Comment
8 Comments
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1. mark said...
still several trillion to raise.....lol
2. last_days_of_disco said...
This is deeply scary, it feels like the deep breath before the plunge.
Its clear to me that the Fed has nowhere to go. They just delayed things with the 175 basis point rate cut earlier in the year. But none of it has worked. In a way, I wish it was over.
Its weird, what is it going to be like, its hard to imagine. Anyone with any practical experience of crashes elsewhere, who could give me some pointers on what to expect? What happens next?
3. mark said...
imagine having 100 quid, chucking it off a building of say 10 storys, then run down the stairs and see what you can catch this is what the crash will be like........ I bet you would struggle to catch any of that money....., this is what housevalues will be like ...... we are still a good 18 months behind the states...
4. jonb said...
I think tomorrow will be a very "interesting" day on the markets
5. it_is_going_with_a_bang said...
That should read "Bribed by telephone".
You can just imagine the promises and bungs flying about.
6. plato said...
jonb said...
I think tomorrow will be a very "interesting" day on the markets
Could be johnb and in normal circumstances we would not be far off the mark in predicting an imminent crash. However there always seems to appear a small ray of light that manages to stall events that would otherwise happen in a sizeable but less dramatic manner.
The people in charge seem to have mastered this art, but I dare say at the end of the day (whichever day that is) it will have built up into something quite chaotic and destructive.
7. afrobaggie said...
To be honest Plato I think that they are running out of options!
8. plato said...
afrobaggie @ 7
Yes normally but we are not dealing with the normal, that would involve honesty. There are an infinite number of deceptions until the day of reckoning, eventually brought about by universal laws.