February 19, 2009
downward
Frontline did a story about the economy that was very critical of Henry Paulson's actions. Instead of blaming excess and greed, Frontline found it easier to pick on individuals of the previous administration.
Why does the market not show confidence? Maybe, because it has no confidence of government or corporate fiscal responsibility.
At September 30, 2008, our liabilities exceeded our assets under GAAP by $(13.7) billion while our stockholders’ equity (deficit) totaled $(13.8) billion....Our aggregate losses on trading securities, our guarantee asset and derivatives, net of the unrealized gains on foreign-currency denominated debt, increased from $481 million in the second quarter of 2008 to $4.2 billion in the third quarter of 2008, as the turmoil in the markets contributed to dislocations in the normal correlations between different instruments. - Freddie Mac
Posted by azileretsis at February 19, 2009 06:38 PM
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