Monday, July 14, 2008

Fannie Mac?

The plan to 'save' the world. I am intrigued to see what this week on Wall St. brings us.

So what happens if we don't help out the major lending istitutions of the US? CNN says

"If they were unable to do so, it would raise the cost and restrict the availability of mortgage loans, causing more problems for already battered housing prices and sales. That in turn would be another significant problem for the overall U.S. economy, as well as global credit markets."

Referring that their inability to give out loans will ruin not only the US market but put a damper on the global market.

That being said, I want to see what the Feds do and where the market goes this week.

We currently stand as so:

Updated: July 11

Dow 11,100.54

Nasdaq 2,239.08

S&P 1,239.49