Today Wall Street swing between positive and negative territory but ended about 90 points up. Crude oil was up, but my main concern was the huge losses in Fannie Mae and Freddie Mac share prices. Loss of confidence in these two counters and the huge losses in share prices will result in them having more difficulty issuing new stock for liquidity. Loss of confidence in these companies can kill the mortgage industry and will lead to a government rescue plan which would surely in turn causes huge losses for the retail investors.
Another Day of Uncertainty
By Finance in Another Day of Uncertainty
Aug
21