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This Week’s Sign of the Apocalypse: Fannie, Freddie and Failing Oil

Posted by Evante Garza-Licudine on Saturday, July 12, 2008 10:09 pm

After discovering the latest omen of the world’s coming demise, the Clog encourages Berkeley students to put down their books and enjoy their short-lived time on earth.

Recession

This Friday was particularly worrisome for the financial world as mortgage firms Fannie Mae and Freddie Mac faced problems on the scale of trillions of dollars. Combined, they manage about half the mortgage debt in the U.S.—that’s five trillion dollars. Allow us to repeat that: $5,000,000,000,000.

Posted in: The Specials
Tags:crude oil, Dow Jones, Fannie Mae, Freddie Mac, Sign of the Apocalypse, we're ALL DOOMED
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