Wednesday, August 20, 2008

Famous Last Words - Laughably Late

Fan and Fred stocks drop for third straight day amid concern that bailout is imminent. In a Letter to Editor published in 8/19 NYT, we read:

"...we expect to move through this period without asking for Treasury support and are taking the steps necessary to serve our markets — and our vital mission — for many years to come." --David Palombi, Sr VP, Freddie Mac, Aug. 11.

Did he email the Eds? Or why is the response 10 days out of date?--during which Fred lost billions more, and the financial landscape again changed. Lesson learned?

No comments: