Today's Top Videos: Sin City, SEC's Cox & More...
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