The US no longer a Nation of the free but of the bankrupt.

THE events of the weekend begin the greatest intervention in the US economy by the Federal Government since the Great Depression, with the Bear Stearns rescue but a splutter on this road we must now travel. If you were wondering what all the flag-waving at the Republican convention has been about, it is now clear. […]

The big secret in U.S. housing

Voters aren’t likely to hear much before the election about plans to end government support for two giants in home finance, Fannie Mae and Freddie Mac. Yet like house prices, the federally backed entities are on the skids – as is the whole idea of Washington continuing to aid investment in a market often treated […]

Fannie, Freddie Shares Slump, Bonds Rise on Bailout Speculation

Aug. 20 (Bloomberg) — Fannie Mae and Freddie Mac shares tumbled in New York trading to the lowest levels since at least 1990 and the bonds rose as speculation increased that the U.S. Treasury will bail out the mortgage-finance companies, wiping out shareholders. Fannie, based in Washington, slumped 27 percent and McLean, Virginia-based Freddie dropped […]