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Wednesday, July 23, 2008

3 Wood: Fannie and Freddie Meet Jesse and Barney


Jaco Pastorius ~ Fannie Mae


Jesse Jackson's corporate blackmail keeps on keeping on.


Fannie & Freddie Funded Jesse Jacksons Pet Projects


For many years people in the know have talked about Jesse Jackson's lucrative ability to get large donations for various corporations and other entities to his favorite causes. Jesse has long been considered a huge "rainmaker" in that he can get rain (money) to seeming fall out of the clear blue sky for the causes of his choice.


The long and the short of it is many such business entities have long ago learned that unless they write a fairly tasty check to Jesse's bidding, they somehow get labeled "racist" in public and then life gets very hard to live.


Fannie Mae and Freddy Mac are no exception, as the article shows. It's like paying protection money to the mob, a cost of business, only the mob is a little more honest about it.


Congress is close to a deal on supporting Fannie Mae and Freddy Mac.


"WASHINGTON (MarketWatch) -- In an wide-ranging response to the housing crisis, House lawmakers are preparing to vote Wednesday on a sweeping package to assist homeowners and prop up government sponsored mortgage buyers Fannie Mae and Freddie Mac.


Lawmakers have been working for months on a massive housing bill that's been given new urgency by the Bush administration's plan to backstop Fannie and Freddie, which have seen the values of their shares sink over concerns about their capital levels.


The House appears set to approve the housing bill and plan for Fannie and Freddie later Wednesday, with Senate approval later in the week. Shares of Fannie Mae and Freddie Mac were up Wednesday morning on news that approval for the bill was nearing."

This should put a "floor" in the market. One other thing to bear in mind is that the financial numbers have been negative for a while. Eventually you have positive numbers just because even a little improvement looks good by comparison. As the results start turning around, beware of over reacting to the positive news, just as some have over reacted to negative news.


Also, get ready for Obama to start taking credit for any improvement in the markets, claiming that the market is anticipating him winning in the fall. Clinton pulled this same con-game in 1992 with the help of the MSM.


~ 3 WOOD



Curtis Mayfield ~ Freddie's Dead ~ 1973

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