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THOUGHT FOR THE DAY!

"I am strongly in favor of using poisoned gas against uncivilized tribes. The moral effect should be good...and it would spread a lively terror.... "-- Winston Churchill commenting on the British use of poison gas against the Iraqis after World War I

 

The Housing Bubble in 4 Easy Steps

Fannie Mae, Freddie Mac, mortgage-backed securities, and credit derivatives were simply the conduit that made all these bad loans and investments seem less risky than they really were. In this manner the Federal Reserve can fool the market, at least temporarily. In the end the market always reasserts itself.

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