The worst thing haven’t happened yet by Barbora Misakova

There are always situations in our lives when we think that nothing worse can happen. The situations when we are so desperate and lost, that we think nothing worse is possible. And how surprised we are when we find out that we were wrong; that the opposite was true. Doesn’t really matter if is going something wrong in our families or in the country we live in. Everything is, if we want or not, in a sense touching all of us. And if the main problem is connected with money, we – people of 21st century living just from and for them, will have big problems. The last financial crisis in the U.S. touched every single country, company and even person living on this planet. Some of them were hit directly, some of them not. But anyway everyone knows about the main U.S. problem which unfortunately became in a very short time the worldwide problem too. After a long time and hard work it seemed that the whole situation calm down. Actually the biggest crisis was hiding in the shadows of mortgages and loans. The United States of America are now facing another problem. And it is even worse than the last one. Fannie Mae and Freddie Mac – the mortgage giants which were always stable and staid have problems now. These companies own or guarantee over $5 trillion of home loans and their default could lead the U.S. economy not only into the last degree of recession but even into the deeper one. As president Bush said: “Freddie Mac and Fannie Mae are very important institutions” and there is no question that the U.S. government is going to do its best to help them. The question is how they will do it. If the financial health is still deteriorating then the government will have just two possibilities: take them over or bail them out. If the choice of government is whatever, the truth is that “there is no good news for the housing market and for the broader economy.” So we should just hope that today’s situation won’t be followed by another and even worse.



related story: http://news.yahoo.com/s/ap/20080711/ap_on_an/mortgage_crisis_analysis;_ylt=AirTjRWbMV796GXuL8TwYaqs0NUE

by Barbora Misakova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.<br><br><font size=2>These news are original content from young talents around the world and are selected for you by Chris Cantell.</font><br>

posted by Lucia Adamova