The Financial Crisis: This Day—One Year Ago, Sept. 8
Paul McCulley, Pimco portfolio manager, offers his insights into the government's bailout of Fannie Mae and Freddie Mac.
Monday sees a dawn for markets...a false dawn. Investors rejoiced that the U.S. Treasury will take over Fannie Mae and Freddie Mac, seeing a sign that housing troubles are over. Stock markets all over the world rocket upward. But not everyone shares the . Lehman Brothers ends the day down 13 percent. Why?