Fannie Mae and Freddie Mac, a $5.2 Trillion Bankruptcy
By J.W. Smith When established in the 1930s, Fannie Mae was a government sponsored, non-profit financial institution, designed to provide low-cost home loans to a nation traumatized by the Great...
View ArticleA Bailout we Don’t Need-New Paradigms
It is absurd that that the only way to add liquidity to the economic system can only be done through borrowing from the financial community, and when all the existing assets are already monetized, and...
View ArticleReviving Main Street-A Bailout we can use
Of course, this is sacrilege by traditional economic theory, and these schools, and their wealthy sponsors will publish hundreds of thousands of pages calling it fiscal irresponsibility, and voodoo...
View ArticleCredit Default Swaps, Derivatives, The Federal Reserve, Henry Paulson, Ben...
By J.W. Smith Steve Kroft in Sixty Minutes did a great job describing what credit default swaps were and how they were bringing down the biggest banking houses in the nation. As explained in the above...
View ArticleAn Open Letter to President Barack Obama’s Economic Recovery Team: Full and...
By J.W. Smith With the world economy still imploding the U.S. Treasury Secretary Hank Paulson and Federal Reserve Chairman Ben Bernanke pulled out all stops. The Federal Funds rate was dropped...
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