$100 Dash
A post Olympic view:
Wednesday, August 27, 2008 | 04:30 PM | Permalink
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"Brad Ball, analyst at Citigroup, recommended the stock of both government-sponsored mortgage financiers. Shares in Freddie rose by 22.19 per cent and Fannie was 13.10 per cent higher in morning trade, leading stock markets higher.
Mr Ball said that both companies' stock prices were so low that the potential rewards were "attractive" if the two companies pull through the housing crisis. He said both Fannie and Freddie's capital positions had a substantial cushion above their regulatory minimum, and their continued access to the debt markets meant the odds of an aggressive government intervention were 1 in 10. "
“Hey C...C?...c’mon C we got 225B to roll over and we can’t go to the equity troughs in this condition……..You know were in this shit together man….”
Posted by: Johnboy | Aug 27, 2008 4:38:36 PM
Should show the Government too!
Posted by: Eric Blood Axe | Aug 27, 2008 4:38:41 PM
Obviously the guy in back is a CEO because his wages are moving quickly in the right direction. Most of us ain't so lucky. Standing still above the starting blocks would be more accurate for the bulk of American workers.
Posted by: lurker | Aug 27, 2008 4:40:32 PM
Nice.
I was just having this conversation on the couch last night with my roommate. She asked why inflation occurred; we shared a quart of Häagen-Dazs as I explained how new money is created. When I got to the part about the poor having no hedge against inflation, and therefore being disproportionately affected by government-created inflation--like a regressive tax--she was really upset.
I reminded her, however, that the down-and-out have at least one up on the rich: in an economic crash, they have lower suicide rates.
Posted by: Annie | Aug 27, 2008 4:43:16 PM
Here comes Gustav to slow us down more. Anyone see it's predicted to be Cat 4 by landfall. This could get bad if it hits Louisiana again.
Posted by: GB | Aug 27, 2008 5:10:51 PM
Nice post Annie.
I'm not one who gets sentimental when drunk but I know some do.
I think its possibly a very important point that banks, that primarily use other peoples money, don't mind about inflation.
They very much mind deflation because while their obligations to their depositors don't change. The people who they lent money too are having an ever harder time paying their debts back to the bank.
We all know, and can clearly see, what happens to bank stock when doubts about the banks loans being repayable emerge.
Posted by: Simon | Aug 27, 2008 5:33:25 PM
If the guy with the money puts on some real track shoes and continues the chase, he may not catch up to the other guys but, at least, he will be as slender as they are.
Posted by: RF | Aug 27, 2008 5:51:17 PM
Simon,
Dude, Häagen-Dazs is ice cream not booze... although I guess it's pretty analogous to what teetotallers do when they want to get wild ;)
Posted by: Annie | Aug 27, 2008 7:32:51 PM
Annie,
don't forget to tell your roommate that the Founders, explicitly, called for our Money to be of Gold & Silver to 1) slow the creation of currency by the banks, 2) provide 'the poor' a built-in Inflation hedge. But, Foolish Founders, What did they know? Right?
Posted by: Mark E Hoffer | Aug 27, 2008 11:02:15 PM
Love the flip flops......now that is biting satire
Posted by: David | Aug 28, 2008 9:50:26 AM
The key question is what flavor Häagen-Dazs.
Of course according to the Fed there's only one runner in that race because food, gas, and utility prices don't count.
Posted by: daveNYC | Aug 28, 2008 10:28:59 AM
