SEC Chairman Christopher Cox talks about Fannie Mae and Freddie Mac's stock movements, while Las Vegas' gambling industry faces an economic earthquake. Following are today's top videos:
SEC Chairman on Fannie, Freddie
“There are two things going on with Fannie and Freddie. First, their core business—there’s a lot of reason for people to buy and sell and for those shares to fluctuate and go up and down based on current news…”
--Christopher Cox, Chairman, SEC
FDIC Watch List
“Investors need to remember that loss reserve is putting aside money today for tomorrow’s losses. The industry’s got a two-to-one ratio—they’re putting away $2 for every $1 they’re charging off because they expect future losses…”
--Christopher Whalen, Managing Director, Institutional Risk Analytics
Sin City Economy Takes A Hit
“The high rollers are still gambling, but the regular folks are not. Revenues at the table are slightly down, but some analysts say they’re down 5 percent on the strip. That’s one reason why casino stocks this year looked a bit like a showgirl without her feathers…”
--Jane Wells, CNBC’s Business News
Stop Trading, Listen to Cramer
“I remember how power Katrina was and how weather’s a powerful story, but I’d be very careful—if, we do not have a direct hit on the platforms, then you could see oil down $8 or $9. Be careful, because you need a direct hit to knock out the Gulf!”
--Jim Cramer, CNBC’s Mad Money
Maria's Market Message
“Initial jobless claims and preliminary GDP data for the second quarter could set the tone for trading on Thursday, but it was better than expected durable goods numbersthat fueled the markets higher on Wednesday. According to the Department of Commerce, U.S. durable orders jumped 1.3 percent in the month of July… ”
--Maria Bartiromo, CNBC’s Closing Bell
