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It's a Crazy Market...What's Next? Regardless...Take Action!
It’s pretty crazy how in the last 3 weeks the following has taken place: • Fannie Mae & Freddie Mac were seized by the government • Leman Brothers files for bankruptcy • Bank of America bails out Merrill Lynch before they have to file for bankruptcy • AIG bailout by the Federal Reserve in the amount of a $85 billion loan • President Bush seeks a $700 billion Bailout and it fails to pass • Goldman Sachs & Morgan Stanley turn into regulated commercial banks • Warren Buffet buys $5 billion of Goldman Sachs stock • Washington Mutual is seized by the government & sold to JP Morgan Chase • Wachovia is bailed out and purchased by Citigroup The next question is, what’s next? Monday showed a 777 loss in the Stock Market...Tuesday showed over a 400 point gain back...will the adjusted $700 Billion "Bailout Plan" (or better termed and Economic Stabilization Plan) pass this week now that some changes have been made to gain bipartisan support? What does this all mean to the average homeowner?  In the midst of this country wide "crisis", remember that most banks are doing just fine. Most people are paying their mortgages on time. Most ... more

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