Haney thinks this is the american economy in crash and burn. http://news.bbc.co.uk/2/hi/business/7502184.stm
If Fannine and Freddie do not go bankrupt and stay in their current form, I think friday may have been a great time to buy some Freddie. $5.1bln market value? $50bln profit LAST YEAR?? I sez buy!
This is what Graham is talking about re: the "psychosematic recession". It's the same story with oil. Short it now for December.
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