Jim Rogers has a sector pick -- and a major pan: The CEO of Rogers Holdings told CNBC that the government should not bail out Fannie Mae or Freddie Mac, but should let them fail.
The Treasury Department and Federal Reserve said they would bolster Fannie and Freddie with vast infusions of aid. But Rogers believes that will only prolong economic weakness, increase the budget deficit -- and destroy the effectiveness of such rescue measures when they're really needed.
"In two years or three years, when six or eight other [institutions] are failing, America won't have any more bullets left," he said.
Rogers noted that he's "been short Fannie Mae since I came here three years ago or four years ago," adding that "I'm short lots of banks."
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