What a Difference a Day Makes

What a difference a day makes:) Oil retreated, and financials made a comeback, and the market took back all of Monday's downturn.

It was great news for our traders with the August580C, which hit highs of 11.30, and hit our projections.

The Dow moved to 11,440. Study our new Dow projections well, as whipsaw is likely to continue.

Thirty years ago the U.S. total outstanding mortgage debt was 30% of our GDP. At that time homeowners held 70% equity. Today.....mortgage debt is 80% of our GDP, and the equity positions are 50% and less, and falling.

Fannie and Freddie made this possible as reams of Democrats and Republicans allowed these companies to finance more than 80% of new mortgages in this country. Released from capital ratio requirement and backed with a line of credit at the Treasury, they were able to buy a nearly unlimited amount of mortgages.

Now, Senator Chris Dodd, a true idiot, leads a mortgage bailout program for Bush and the boys. This bailout is perfectly wrong:

1. Written by Bank of America

2. Developed by Dodd, who personally received a half million in mortgage benefits with Countrywide Mtge personally, and leads to now tax Fannie and Freddie for $600 million.

Republicans will discuss how Obama is going to raise taxes (not true) while neglecting this bail out alone is entirely financed by the American taxpayer.

Floyd believes that Fannie and Freddie are truly liable for 5 trillion in mortgages and real facts will finally come out in falsified values and books to force them to insolvency. This will occur after we have funded a bail out, increased taxes, and put money through HUD to pay Fannie and Freddie.

These are REAL facts. In the papers you read "Congress to provide financial incentive to strengthen Government mortgages".