Monday, October 20, 2008

Subprime Disaster's High-Value Targets: The Deck

Card one.

Thanks to Ace of Spades for the link.

Are you looking for tomorrow's card today?

It's coming.

MORE: Some more on Dodd? OK, how about this:

As recently as last summer, when housing prices had clearly peaked and the mortgage market had started to seize up, Dodd called on Bush to "immediately reconsider his ill-advised" reform proposals. Frank, now chairman of the House Financial Services Committee, said that the president's suggestion for a strong, independent regulator of Fannie and Freddie was "inane."

No. No need for a strong, independent regulator. Not when Fannie and Freddie are "fundamentally strong", as Dodd was saying just this past July:

WASHINGTON (MarketWatch) -- Embattled mortgage finance giants Fannie Mae and Freddie Mac are "fundamentally strong" and questions about their capital are unwarranted, a top U.S. Senate Democrat said Friday afternoon.

"This is not a time to be panicking about this. These are viable, strong institutions," Sen. Christopher Dodd, D-Conn., said at a Capitol Hill press conference.

The comments came as the two government-sponsored enterprises continued to be the focus of growing fears they could be insolvent or could face a capital crunch. ...

"The economics are fine in these institutions and people need to know that," Dodd said. There's no reason "to talk about failure," he added.

1 comment:

  1. Love the card! One a day isn't fast enough though - I want the full deck for use the evening of Nov. 4th.