The week's biggest financial news
The Wall Street Journal Friday noted theof prescience at the Federal Reserve prior to the crisis: 鈥溾�ut Mr. Bernanke described the cooling of the housing boom as a 鈥榟ealthy thing.鈥�
鈥楽o far we are seeing, at worst, an orderly decline in the housing market,鈥� he said.鈥�
Fannie Mae鈥檚 CEO, Michael Williams, this week. Said Williams: 鈥淚 am extremely proud of what we have achieved together, and I am confident that they will continue to make a positive difference.鈥� Freddie Mac鈥檚 CEO is also on the way out, by the way.
The Obama Administration announced this week that it wants to foreclosed properties to rentals It is 鈥� a pilot program to sell government-owned foreclosures in bulk to investors as rentals.鈥� Since this is a partnership with government-owned corporations Fannie and Freddie, this program is likely to manifest itself as yet another investment opportunity only for massive, politically-connected enterprises. Small investors will very likely need not apply.
US Senator Jim DeMint declares in South Carolina: 鈥淚f You Don鈥檛 Listen To Ron Paul鈥he Federal Reserve Is Gonna Destroy Our Monetary System鈥澛�
