September, 2008
LiveWire Economics Blog - September 10, 2008 19:09
Trying to Pump Up What’s Busted
EVIL DAYS indeed. Scared and scarred by losses in all other assets, the world’s wealth suddenly wants to sit in the safety of US Dollars and US Treasury bonds.
US Government bails out Fannie and Freddie
Huge news in the credit markets came this past weekend, as the US government took over failing mortgage finance companies, Fannie Mae and Freddie Mac. The government takeover ended months of speculation amid concerns that failure of the two mortgage giants could have a catastrophic impact on already struggling credit and housing markets.
Gold Whipped by Fannie, Freddie Nationalization
THE SPOT PRICE OF GOLD whipped violently in Asian trade on Monday, shooting 1.8% higher after the US government nationalized the massive Freddie Max and Fannie Mae mortgage lenders, before giving back $10 of that move to trade at $808 an ounce by lunchtime in London.
Oil swings drive wild day
A strong early dive in oil prices helped drive a 250 point surge in the Dow on Tuesday (September 2). Oil dropped sharply to a low of $105.46 per barrel early in the day based on reports that the Gulf Cost oil refineries were largely spared as Hurricane Gustav swept through the southeast part of [...]
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