Wall Street, New York Sunday is the best day to lay back, get fat, and watch football. Period. Yesterday was more exciting than most Sundays for more reason than just because Green Bay woodsman is now a New York Jet. Why? Well, unless you have been hibernating, the Japanese markets have been up for 12 hours and the American counterparts are following today on news that Uncle Sam has bought out debt-ridden megaliths, Freddie Mac and Fannie May.
I can't tell you how many goddamn times I've heard junior brokers saying that these entities are "Backed by the full faith and credit of the United States." Today the Fed ponyied up, grew up, and saved us some rough times ahead. I am against regulation, fire control, and rangers in our national parks but otherwise I'm a staunch conservative ready to sink his teeth into the next bite of market share or I can wrestle from the arms of the weak.
Freddie and Fannie have made this possible again today as the market looks tender with a feast in sight. It' good to be back Rarrr!