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IF YOU WERE OBLIVIOUS TO THE  ECONOMIC  AND FINANCIAL NEWS  HAPPENING OVER THE WORLD RIGHT NOW . im sure  you would be wondering what is this all about is this a burger chain gone down...  For all its mighty worth ... these  huge banks  in the us  sound real funny with these sorta names.

ALL IT TAKES IS A  "mac "  and a "fanny"  from the US of A  to bring down the world financial markets  and give everybody a hard time.

Indy mac bank -official website

Last week, a large California-based mortgage lender with loans of about $33 billion, IndyMac Bank, was placed under the regulatory control of the Federal Deposit Insurance Corporation after $1.35 billion in deposits was withdrawn in one month, a run that sent it to the wall. The lender resumed business yesterday under a new name, IndyMac Federal Bank, but the cost to American taxpayers of keeping the bank in business and avoiding any wider fallout will be substantial. About 10 per cent of the corporation's $55.2 billion Deposit Insurance Fund is expected to be spent propping up IndyMac.

FANNIE MAE & FREDDIE MAC -Official website Alarm bells are ringing about the solvency and liquidity of Fannie Mae and Freddie Mac, which together own or guarantee about 40 per cent of America's home loans. Like IndyMac Bank, these two lenders will not be allowed to fail or rather cannot be allowed to fail but the cost of federal intervention, should it be required, will be a severe test of the US economy. Some estimates are that an injection of public capital in the two banks could add up to $5 trillion to the US national debt of about $9 trillion.

If the American economy probably already in technical recession, but certainly labouring under the effects of the credit squeeze, and with consumer confidence hovering at a 28-year-low had to digest a partial or full-scale bail-out of these two mortgage lenders, the shock to the housing and financial markets, and to the already weakened American dollar, would be considerable.Fannie Mae's and Freddie Mac's share prices have collapsed on fears about future losses and the dilution of shareholder value arising from new equity raisings, but some commentators argue the banks are in no immediate danger


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