Let’s ask some “tough questions” here.
First, let’s start with The Fed’s press release “filling in the details” of their intended purchase of Fannie and Freddie (along with Ginnie) securities:
“Only fixed-rate agency MBS securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae are eligible assets for the program.”
Ok, so we claim these are the securities. [...]

Mike “Mish” Shedlock
Destruction of Household Wealth Inquiring minds are diving into the Z.1 Flow of Funds Accounts of the United States for the Third Quarter 2008. It’s a mammoth 124 page publication. The publication came out on December 11th but some probably have not seen it yet. The following chart comes from page 113 of [...]

The Fed is set to vote Thursday on a number of key protections for credit-card customers.
Issue #1: America’s Money Crisis
Oh Gee, Wow! Hip, hip hurray! A crackdown on Credit Cards is comings soon on key protections for credit card customers. About time!
“NEW YORK (CNNMoney.com) — Cash-strapped consumers might get some welcome news on Thursday when [...]

The U.S. credit-card industry may pull back well over $2 trillion of lines over the next 18 months due to risk aversion and regulatory changes, leading to sharp declines in consumer spending, prominent banking analyst Meredith Whitney said.
Click here for the full article.
If this has not happened to you it will. How will this effect [...]