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Aust could be following US towards recession
Lateline Business - 14/07/2008: Aust could be following US towards recession
Quote:
The crisis on global credit markets is continuing to take a heavy toll in the United States with the Bush Administration forced to throw a lifeline to the two companies which underwrite half of America's beleaguered housing market.
Fannie Mae and Freddie Mac between them have more than $5 trillion dollars in debt, and their collapse would devastate the US economy and have serious consequences for Australia.
Later tonight Freddie Mac will seek to raise capital by selling more than $3 billion dollars in short-term debt to investors.
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Sim'
This is a general comment only and does not constitute advice. Before making financial decisions you should seek advice from a professional adviser, who can take into account your specific circumstances and investment goals.
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