First there’s this quote from Bloomberg about why Fannie Mae and Freddie Mac are having their surplus capital requirements eased:
The worst housing slump since the Great Depression is being exacerbated by the limited ability of Americans to get mortgages or refinance loans amid tightened standards at money-losing banks.
Then this uplifting tidbit from Reuters:
Democrat Barack Obama’s big national lead over Hillary Clinton has all but evaporated in the U.S. presidential race, and both Democrats trail Republican John McCain, according a Reuters/Zogby poll released on Wednesday.
Given that McCain sees himself as another war president, and blithely dismisses the economic problems of our country as beneath his interest, what can we expect?
I suspect that if the unthinkable happens and Johnny War Hero wins in November, we’re about to see a guy earn himself an unenviable place in American history – McCain may well find himself the next Herbert Hoover.