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Article - Is the Fed out of bullets? CNNMoney

Interesting article off of CNN Money that I ran across today walking through the Fed's options that would remain should we enter into a "double-dip" recession. Also had an interesting video post from Nouriel Roubini on his opinion of the current market conditions and what policy makers can do...

From the article...

• Longer-term rates set by the market, such as Treasury yields and mortgage rates, are also nearing historic lows. So the Fed can't make money much cheaper.
• The Fed pumped trillions into the economy over the past two years through the purchases of non-traditional assets, such as long-term treasuries and mortgage-backed securities. Some look at the Fed's balance sheet and worry that it could be leading to asset bubbles and inflation down the road.
• And despite the growing worries about the economy, Fed officials have to be careful not to raise too many alarms. Too much attention to problems that have arisen since the Fed's last meeting on May 9 could be more dangerous than ignoring the growing threats, according to experts.
  

• Zandi said if the Fed were to hint it is even considering another round of asset purchases, "it would be counterproductive." "It'd spook the hell out of the market," he said.

Full Article

Video from Roubini...

Article - Fannie Mae, Freddie Mac to delist from NYSE - CNNMoney

This is not news to be taken lightly...if we all think back to what caused the massive downturn in 2008, it was all put into motion by the pullback in the housing market and the mortgage defaults that came along with it. The markets spiraled downward from there, resulting in one of the worst market scenarios since the Great Depression.

Flash forward to today, where many borrowers have actually decided to "Strategically Default", essentially a carefully calculated, voluntarily mortgage default where the decision is made not to pour any more money into what that person considers a sunk cost. Read this Time Article for more on it, but essentially, this second form of mortgage default is continuing to drag down a housing market that is struggling to make a recovery.

Video on Strategic Defaults from CNN

So today's news is not something to glance over, when you think about how this all started in the first place...

Mortgage finance giants Fannie Mae and Freddie Mac were ordered by their federal regulator to no longer trade their shares on the New York Stock Exchange, the agency announced Wednesday. Both stocks plummeted on the news.

Fannie Mae and Freddie Mac remain a key source of funding for banks and other mortgage lenders. Without Fannie Mae and Freddie Mac, lending to home buyers would have completely dried up, home sales and new housing construction would have fallen even more sharply and homes would have lost even more value.

But while the money given to Fannie Mae and Freddie Mac helped put a floor under the U.S. housing market and overall economy, the two firms have continued to hemorrhage money.

The two firms posted combined losses of $93.6 billion in 2009 and another $18.2 billion in the first quarter. The Obama administration had said it would lay out its plan for their future at the start of this year, but has yet to do so.

Full Article

Video - Mike Reese: Discusses 5 Secrets that Enabled him to Generate over $1 Million in Commissions in 2009

We had one of our most highly attended webinars in our company's history yesterday with Mike Reese who trains at our IRA College. Mike discussed 5 Secrets that allowed him to generate over $1 Million in commissions in 2009!

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