news today

InBev’s offer for Budweiser was accepted, but more importantly Fannie Mae and Freddy Mac edged closer to failure. Even after the Fed’s assurances the stock was down several percentage points. It’s obviously not an adequate corollary but when Bear Stearns was bought out with government backing it gained $8 from its initial purchase price of $10. However today shows that the US Government is itself edging closer to insolvency–it’s word carries half or less of the weight that it did before the subprime crisis hit.

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