Gosh are things in the financial world worse than we think (bankruptcy, loans)
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I think he was probably dealing with depression and probably felt a great burden on his shoulders for the mishandling of investments/funds w/in Freddie Mac, even if he had nothing to do w/ the decisions. He probably saw friends and relatives whose lives have been impacted by the financial downturn and felt helpless to do anything about it. On top of it, if he truly was not involved in the bad decisions, he may have felt very angry about others in the community assuming "guilt by association" and that there was no way to salvage his honor. Who knows? But I don't think it was b/c he didn't want to have to testify against others or reveal what he knew. If he was the man that others are describing - and it sounds like he was a decent person - then it all may have just been so painful that he didn't feel he would ever find a way to escape the assault on his personal integrity.
So no, I don't think there is more to come on the Freddie Mac story. The next fallout will be w/ credit card defaults.
I am absolutely sure that we will eventually find out the story behind this. There is so much to the Fannie Mae/Freddie Mac story and how it led to the housing crisis. Things will get much, much worse and lots is still out there to be uncovered. :-( Unfortunately.
The next fallout will be commercial real estate, and it will make credit cards/residential RE look like a drop in the bucket.
Yep I think just last week General Growth Properties which owns over 200 malls filed for bankruptcy. I don't care what anyone says but this stimulus package isnt doing any good. All it is doing is prolonging the inevitable. I also think it is part of the plan to kill the US dollar. I do think we will continue to see a rally in the stock market till sometime in June but after look out.
I don't care what anyone says but this stimulus package isnt doing any good. All it is doing is prolonging the inevitable. I also think it is part of the plan to kill the US dollar. I do think we will continue to see a rally in the stock market till sometime in June but after look out.
+1
It is still basically impossible to get commercial loans using land or buildings as collateral...
Yep I think just last week General Growth Properties which owns over 200 malls filed for bankruptcy. I don't care what anyone says but this stimulus package isnt doing any good. All it is doing is prolonging the inevitable. I also think it is part of the plan to kill the US dollar. I do think we will continue to see a rally in the stock market till sometime in June but after look out.
Good point. I agree - commercial real estate is in a mess. Talked to a commercial broker last week. Terrible mess out there; defaults on leases, can't sell anything b/c no one can get funding. Bad.
And as for the dollar - oh yeah. I have been thinking this, too. I think our new administration wants to change things w/ our monetary fund. Euro? Something is up. Europeans are talking about it but nothing much being said here. Check out Deutsche Welle and BBC - you will hear some of it on their airwaves.
As for stimulus plan overall - fantasyland. A road contractor who is receiving some stimulus money (via a contract w/ state) was saying how it would not change a thing. Keeps his same crew employed, but they already had contracts anyway. So not like it is giving NEW JOBS to people out of work, wh/ is what I said from the beginning. Bunch of smoke and mirrors, IMHO.
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