Thursday, July 10, 2008

Poole: Fannie, Freddie `Insolvent' After Losses (FNM; FRE)

This strikes me as rather serious. From The Big Picture:
This mornings must read article is Bloomberg's summary of former St. Louis Federal Reserve President William Poole comments on the GSEs:

"Borrowing at Fannie Mae, the U.S. government-sponsored mortgage company, has never been so expensive and it may not get better any time soon....MORE