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Fannie & Freddie: Livin on a Prayer

September 9, 2008

Are you people following the story of the Federal bailout of Fannie Mae and Freddie Mac? It’s a barn burner. From all of the news I’ve digested, Treasury Secretary Paulson saved the world from a global depression by bailing out these mortgage giants Sunday night. Did you know that they are the biggest companies in the world in terms of debt and the only bigger debtor is the U.S. government? If they’d gone under, we’d be toast. What remains to be seen is whether the global financial markets and the consumer credit crisis stabalizes.

Thank goodness no one knows what these institutions actually do. People would be pretty bummed out if they knew how close we’ve just come to collapse. But there will be an impact in Consumer Land and Client Land. I can’t decide if we should prepare Doomsday Economy strategies in The Lair or do our duty and encourage people to spend, spend, spend to get the wheels moving again. Interesting strategic times … and an economic tsunami that will impact the culture more than Cheap Chic and trendy thrift.


One Comment leave one →
  1. marypatanselm permalink
    September 10, 2008 12:08 am

    More than just Cheap Chic? Because that’s my favorite part …

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