Fannie and Freddie Mac Continue to Drop
In this quick news report by Reuters things continue to look ugly for Freddie Mac and Fannie Mae. The real concern for the economy and the world however, is the growing signs of trouble in a number of small to medium sized regional banks.
There are over 90 banks on the FDIC watch list that are facing severe financial threats that could trigger the FDIC to step in and seize control.
The problem is that many investors have even lost confidence in this after the FDIC had to step in and seize IndyMac last week. IndyMac was not even on the radar for potential trouble and this has many investors concerned that other sleeping giants may fall as well.
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