US government takes on big role in mortgage market

[No_Man]

The economy is teetering on total collapse. Unemployment is skyrocketing. Inflation is skyrocketing.

Let's get a little perspective here. Unemployment is at 6.1%. That's a little over the average of 4-5%. Inflation is at around 5.5%. That's a little over the average of 3%. Neither is at the 9-10% unemployment and 15% inflation that we had during the early 80's. THAT was "skyrocketing". This is "elevated".

I feel bad for anyone who had their life savings in either Fannie Mae or Freddie Mac stock.

Both lost a staggering 85% of their Friday close value's in one day!

I weep to think that there might actually be someone dumb enough to put their life savings in a single stock. Yes, I know it happens. But I hope most of us are smart enough to diversify our portfolios enough (or use inherently diverse methods like mutual funds) that the impact of this will be pretty soft.

 

[LBP 76]

I weep to think that there might actually be someone dumb enough to put their life savings in a single stock. Yes, I know it happens. But I hope most of us are smart enough to diversify our portfolios enough (or use inherently diverse methods like mutual funds) that the impact of this will be pretty soft.

The term is 'ignorant', not 'dumb'.
And I was assured by my financial advisor last Thursday that the takeover rumors were 'unfounded'.