Craig Cheslog

Barry Ritholtz has 10 points for us to consider about today's federal takeover of Fannie Mae and Freddie Mac.

I have to admit that I share Steve Clemons' pessimism about what this deal says about our economy:

My own view is that when the U.S. government -- in a time when a not-centrist-at-all Republican occupies the Oval Office -- seizes and nationalizes a publicly held firm, then we all had better tighten our belts.

This is not a sign of economic stabilization. It's a whopper foreshock of more serious problems ahead.

I hope Clemons is wrong. But I doubt this would be happening if the economy was as sound as some are claiming.