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Fannie and Freddie Bring Credit Crisis to Defcon One - Mike Swanson (7/14/08)

Submitted by Mike Swanson on Sun, 2008-07-13 21:13.

Market Commentary

We are at a critical point in the economic history of the United States. I know of no other way to put it. The events of last week were of a character that we've never seen before. On Friday mortgage lender IndyMac Bancorp became the second largest federally insured financial company to fail after it got hit by a bank run. The Federal Deposit Insurance Corporation took it over.

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Fannie and Freddie Bring Credit Crisis to Defcon One - Mike Swanson (7/14/08)

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