I Really Want to Know

What does everybody think about the Fannie and Freddie mess?

It Begins in Earnest

Fannie Mae has halted trading after hours and has replaced three C-levels, including the CEO. I can't imagine Freddie won't have to do something similar soon. Then the government will either have to let them sink (political nitro, Congress won't do it) or take them over (MUCH more likely, but effectively doubling the national debt). Nothing good can come of this, unless you own a gold mine.

Woodside Homes BK

It looks like time is up for Woodside. A number of its creditors have filed an involuntary petition in the Central District of California. Woodside can fight it, but how? I'll provide more as things develop.