By Monty Pelerin , posted December 3rd, 2009 http://www.economicnoise.com/2009/12/03/jimmy-stewart-wouldnt-run-these-banks/ Frank Capra’s George Bailey of Bailey Savings and Loan would surely not recognize our banking system or its accounting. However...
Fannie Mae reports third quarter loss of $18.9 billion and requests another $15 billion in taxpayer funds. Another government enterprise comes back to the well for more, with no end in sight. Bloomberg has a summary of the results here . FNM was the organization...
There is little doubt in my mind that we are heading for a train wreck. The timing and catalyst that trigger this reaction are much more difficult to determine. The potential catalysts are many, any one of which would trigger the wreck. A dollar crisis...