Tuesday, July 22, 2008

Random Stuff

  • Treat yourself to a Lianga Diary (an exquisitely written diary from a coastal town in the Philippines).

WASHINGTON (Reuters) - A Bush administration plan to bolster Fannie Mae (FNM.N) and Freddie Mac (FRE.N) could cost U.S. taxpayers $25 billion, congressional analysts said on Tuesday in a report that triggered debate as Congress moved toward approving a major housing market rescue package.
That's like reimbursing the guy who stole your TV because he couldn't fence it.

NEW YORK (Reuters) - Washington Mutual Inc, the largest U.S. savings and loan, posted a $3.33 billion second-quarter loss on Tuesday as souring mortgages forced it to set aside more money for loan losses. The thrift's deteriorating health prompted Moody's Investors Service to say it may downgrade Washington Mutual to "junk" status [emphasis added].