Fannie and Freddie are down this morning:
One consensus is emerging on line that the Fed is to blame for mortgage market woes:
Who Killed the Economy? – At Portfolio.com (24 Jun 2008)
The response of the Fed and the Secretary of the Treasury, the former Chairman of Goldman Sachs a leading member and presumed shareholder of the NY Fed, is to propose the Fed be given even more power:
Bernanke, Paulson Push for New Regulatory Powers
By Brian Blackstone & Michael Crittenden – Wall Street Journal (10 Jul 2008)
One possibility is to recapture the $4 trillion and gold missing from federal accounts to stabilize and replenish communities and pension funds drained by federal mortgage policies.
The Bell Tolls for the Bubble
By Catherine Austin Fitts – Solari (8 Jul 2008)