This is one of the classic Jim Rogers videos. Everyone who owned Fannie and Freddie put pressure on the government to bail them out. It’s outrageous that they took your money and my money to bail out a failed terrible business.
The Chinese had a huge position in Fannie and Freddie, so they benefiting from this bailout. A lot of money was taken from Americans and sent to China. You can’t call it a super crash, but what the politicians are doing will certainly lead to a bad outcome.
It’s a downward spiral. One thing leads to another. We bail a company out, and that causes another bank to go bust, so we bail them out. It could come out ok, depending what side you are on.
Be careful, there are more bankruptcies coming. More Jim Rogers videos will be posted, so keep checking back.
