Articles

Voters Want Economic Leadership

July 16, 2008

Elections are often reshaped by unexpected and fast-moving events, and when this happens a candidate who quickly takes the lead on the new issue can bolster his chances to win. There is such an opportunity now for Barack Obama and John McCain with the crisis facing Fannie Mae and Freddie Mac.

The mortgage giants touch tens of millions of people because their core business is to buy, insure and securitize home loans. But they act like huge hedge funds with their portfolios worth hundreds of billions. As government sponsored enterprises (GSEs), they have an implicit federal guarantee that allows them to borrow money more cheaply than competitors. They have used that advantage to make ever-larger bets in their portfolios, generating big profits when home prices were rising, but big losses when housing weakened.

FULL ARTICLE: http://online.wsj.com/article/SB121625104564560159.html

Related Article

51d7dfff3677ea43bdca5ca7ff176983
June 08, 2023 |
Article
For political junkies, there can never be too many polls. ...
7ae06c4969423c1a6700b25fe3f20d57
June 01, 2023 |
Article
It sounds like a new Netflix series. ...
55f0ab0283f3fcc608c66bd4a4934104
May 25, 2023 |
Article
Sen. Tim Scott can move a crowd. I’ve seen it more than once. ...
903e6a73704e3a3ce40bd7c8a4287adc
May 18, 2023 |
Article
In politics, even two days can make a difference.   ...
Button karlsbooks
Button readinglist
Button nextapperance