Oil Reaches $147 Per Barrel:
As the federal government tries to decide whether to take over Fannie Mae's and Freddie Mac's massive debt load and dump it on the American tax payer (See The New York Times story), the price of oil reaches a new high. In the meantime, stocks continue to plunge on Wall Street.
Stock in Fannie Mae and Freddie Mac reportedly has fallen by as much as 50 percent as of this morning, according to NPR. Millions of home owners are expected to lose their homes by the end of this year.
The Dude explaining his leadership capabilities: "I don't know all the facts. I want to know all the facts. The best place for the facts is to be done is by somebody who's spending time investigating it." — George W. Bush, Washington, D.C., July 2005.
As the federal government tries to decide whether to take over Fannie Mae's and Freddie Mac's massive debt load and dump it on the American tax payer (See The New York Times story), the price of oil reaches a new high. In the meantime, stocks continue to plunge on Wall Street.
Stock in Fannie Mae and Freddie Mac reportedly has fallen by as much as 50 percent as of this morning, according to NPR. Millions of home owners are expected to lose their homes by the end of this year.
The Dude explaining his leadership capabilities: "I don't know all the facts. I want to know all the facts. The best place for the facts is to be done is by somebody who's spending time investigating it." — George W. Bush, Washington, D.C., July 2005.
Labels: The Economy
posted by Jim | 10:00 AM
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