Congress says no to $700B; Dow says bye to 700 points
In the comedy of errors that we call “the bailout,” the House of Representatives thumbed their collective noses to the White House and to the party leadership of Congress. In a vote that was far from down party lines, the House voted 228 to 205 against the $700B Wall Street bailout package, with 95 Democrats [...]
To be or not to be, that is the question
In a strange twist in this very unusual election, Senator John McCain came out today and announced he was suspending his campaign and heading back to Washington to work with Congress to complete the economic package to bailout the financial sector to bring stability back to the market. The following is a portion of his [...]
What to make of the financial fallout
Up, up up your premium
up up up your premium
up up up your premium
up up up your premium
Scribble away and balance the books
Scribble away and balance the books
It’s fun to charter an accountant
And sail the wide accountancy
To fin, explore, the funds offshore
And skirt the shoals of bankruptcy
It can be manly in insurance
We’ll up your premium semi-annually
It’s [...]
Fannie, Freddie … meet FEDDIE!
Fannie Mae and Freddie Mac were taken over by the Federal Government over the weekend to help ensure that the two entities which hold half or back half (that’s right folks, half) of our nations mortgages would not go under, causing a nationwide collapse of the housing and financial markets. While being under new management, [...]
Random musings from the past few weeks
As you’ve notice, my activity on the site has been a little light over the past few weeks. I would like to apologize about that since things have been rather busy over here. Between multiple trips out of town, marriages, and a weeklong Vacation Bible School at my church, time has been short [...]
