I would love to know how many in government officials own preferred stock in Freddie Mac and Fannie Mae...just curious.

CEO Salaries Weather Mortgage Crisis

CEOs of Fannie Mae and Freddie Mac Earned Roughly $30 Million in Salary Last Year

By JUSTIN ROOD
July 21, 2008

The chiefs of the nation's two largest mortgage lenders reaped roughly $30 million in salary, incentives and other perks last year, despite setting their banks on courses which now may require government bailouts.

Here is an interesting paragraph:

"What worries me is the complete lack of accountability by Fannie's and Freddie's executives" and investment bankers who stand to gain from a government bailout, former Clinton administration Labor secretary Robert Reich told Newsweek magazine recently.

"We've created the worst form of socialized capitalism," Reich said, "private gains combined with public losses."

I would definitely keep an eye on this statement and what actually happens:

Rep. Barney Frank, the Democratic chairman of the House Financial Services Committee, has proposed requiring the government to approve the salaries of top executives at both firms, to make sure they are "reasonable."

Good thing the government is watching...but, wait a minute...

USA Today: Congress Gets $4,100 Pay Raise - Posted 1/9/2008 (Old News But Still Worth Reading)

House Democratic leaders joined with their Republican counterparts to oppose a procedural vote to bring the COLA issue to the floor, leaving the way clear for their automatic raise.

"... WASHINGTON (AP) - Congress members in 2008 will receive salaries of $169,300, a boost of $4,100 over the salary they have had since January 2006.

REAL TIME ECONOMICS - Economic insight and analysis from The Wall Street Journal.

September 7, 2008, 11:51 am

Officials' Statements on Fannie Mae and Freddie Mac (Read Article and comments)

As John Lennon looks down from the heavens, I can't help but wonder what words thought-provoking words he would put to song for this interestng economic time.

Click on the photo to hear John Lennon's Nobody Told Me.

I watched the news last night regarding the government bail out of Freddie Mac and Fannie Mae. During an interview an economist answered questions with seriousness until asked what would happen if this doesn't work. He then broke into a smile and a nervous laugh, and without saying "we're screwed", said things are going to get worse. (I am trying to find it online so I can use the gentleman's name, or connect with the actual interview)---Because his body language and reaction said it all.

From The Times September 9, 2008

Freddie Mac and Fannie Mae: Washington brings cheer to world markets

The deal to prop up Fannie Mae and Freddie Mac was necessary to prevent complete meltdown in America's housing market - Tom Bawden in New York

"...However, analysts said that the stock market could well have further to fall. They argued that although the Government may have averted a catastrophe, the housing market would remain weak as people struggle to repay their mortgages and defaults continue to rise. Unemployment in the US is likely to continue to rise in the coming months, they added"

My question is, if unemployment goes up who is left to pay for all this debt?

United States National Debt (1938 to Present)

An Analysis of the Presidents Who Are Responsible for the Borrowing By Steve McGourty

Click on the chart to see the article: United States National Debt and the Presidents Responsible for It

Everybody's talking and no one says a word

Everybody's making love and no one really cares

There's nazis in the bathroom just below the stairs.
Always something happening and nothing going on

There's always something happening cooking and nothing in the pot

They're starving back in China so finish what you got.
They're starving back in China so finish what you got.
Nobody told me there'd be days like these

Nobody told me there'd be days like these

Nobody told me there'd be days like these

Strange days indeed
strange days indeed.
Everybody's runnin' and no one makes a move

Everyone's a winner
and no one seems to lose.
There's a little yellow idol to the north of Katmandu.
Everybody's flying and no one leaves the ground

Everybody's crying and no one makes a sound.
There's a place for us in movies you just gotta stay around.

Nobody told me there'd be days like these

Nobody told me there'd be days like these

Nobody told me there'd be days like these

Strange days indeed
most peculiar
Mama.
Everybody's smoking and no one's getting high

Everybody's flying and never touch the sky

There's Ufo's over New York and I ain't too surprised.
Nobody told me there'd be days like these

Nobody told me there'd be days like these

Nobody told me there'd be days like these

Strange days indeed
most peculiar. Mama.

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Fairfield Connecticut Home Sales per the Greater Fairfield MLS for August 2007: 72 Properties SOLD

Fairfield Connecticut Home Sales per the Greater Fairfield MLS for August 2008: 19 Properties SOLD

If you would like the addresses and price history of any of these properties, please contact me. There is no obligation. This service is free.

Banks Inducing Housing Market Coma - My previous posting.

Our economy can't stay "frozen forever" teetering on the truth about being in a recession. So, I have been thinking what may be in store for us...

...I think banks are going to DRAMATICALLY DROP THE PRICES of the foreclosures they have been hanging onto (?next year?) -- and interest rates are going to go up!

A Fed Rate Increase In The Making

"... The Fed's last several interest rate cuts may have helped bank balance sheets, but the firms did not lend that money to anyone else. Consumers cannot get loans. Neither can most businesses. The LBO market has gone away. The economic benefit has been zilch.

Fed Officials Agree Next Rate Move Will Be Increase (Update3)

By Craig Torres

Aug. 26 (Bloomberg)

Fed notes hint that rate increase is coming

"... Meanwhile, heightened investor apprehension about the viability of mortgage giants Fannie Mae and Freddie Mac helped to push up mortgage rates, a development "seen as potentially exacerbating the contraction in the housing sector."

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Davis Hill and Valley Forge, Weston, Connecticut

I drive by this site practically every day. A quick turn of the head is all I can manage while driving.

Last night, as the sun was setting, a mysterious haze lingered on the water, begging me to look closer. Listening to my neglected inner-child I turned the car around. (The photograph does not do the magic of the moment justice.)

The road is narrow, and there really isn't a place to park. My time was short for staring at this tiny little ripple in time.

The view was so inviting, and reminisent of my childhood days when I rolled up my jeans, and played in the shallows where frogs, crayfish, and minnows tested my my bare-hand hunting/fishing skills. I had the agility and balance of a circus tight-rope walker then. I could cross smooth wet stones "lickety-split", hopping from shore to shore....

With an unheard sigh from my soul, I got back in car, and dreamed of the kid I was, and perhaps one day sneaking off to a nearby creek to visit Neverland again.

---Life is not always about business.