Thank God we can put the bill behind us I honestly don’t think I could have written one more paragraph about such a non issue. Our followers here knew this news 2 week ago I might add. It was obviously news to some which tells me we still have a lot more educating to do. I hope we didn’t lose too many to the turbulence today. If anyone needs more information on todays bill, please read my prior posts.
Dick Bove shared some great thoughts on Watts specie in regards to Fannie and Freddie ; I am posting a link to the article. I couldn’t help but notice more than a few similarities.
Bove Declares Victory On Fannie Mae, Freddie Mac.
“For some time, I have argued that the United States cannot shut down Fannie Mae and Freddie Mac,” writes Bove. “It now appears that the Administration along with the Federal Reserve sees and understands what they have done. More importantly, it now appears that the policies of disaster are being ripped up, and there will be a return to the housing philosophies of the past.”
Bove sees Watt’s speech as a complete change of course for the GSEs, sets long-term $20 price target.
4 things notably absent today, Obama, McConnell and Reid, did not voice any support for the bill in the days leading up to the vote. And Toomey the one republican who was acting as a true republican defending our shareholder rights didn’t say a word on our behalf today. Reagan must be rolling over in his grave as his party sits by and lets our government continue their Hugo Chavez like scheme.
We have an another status conference next Wed., How long can the government keep running from the truth? I would be willing to bet not very.Buckle up folks this is where the ride gets fun! Keep the Faith!