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Fannie Mae and Freddie Mac, the two largest mortgage finance companies, ``don't have any net worth,'' billionaire investor Warren Buffett said.

"The game is over" as independent companies said Buffett, the 77-year-old chairman of Berkshire Hathaway Inc., in an interview on CNBC today. ``They were able to borrow without any of the normal restraints. They had a blank check from the federal government.''



"Ne te courbe que pour aimer..." René Char
by Melanchthon on Fri Aug 22nd, 2008 at 08:55:51 AM EST
[ Parent ]
Listening to Buffet is always worthwhile.

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid (arvid.hallen at gmail.com) on Fri Aug 22nd, 2008 at 09:09:13 AM EST
[ Parent ]

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