Fannie Mae-No Politics (FNMA)

[Letgoofmyfannie]

Italy’s Nightmare Offers a Chilling Preview of What’s Coming

https://finance.yahoo.com/news/italy-nightmare-offers-chilling-preview-050009137.html

"" The unfolding financial crisis is deeply entwined with what’s happening in shoe stores, shops, and hospital wards. Unlike the last financial contagion, which largely came from within the banking system, this is a shock to the entire economic corpus. As business grinds to a halt, the country risks a domino effect of unpaid bills and loans that threaten to ripple across the globe.

“Basically, it’s a natural-disaster case,” Philipp Hildebrand, vice chairman at money manager BlackRock Inc., told Bloomberg TV. “If they don’t have customers for a couple of weeks, it becomes very hard to service their debt, it becomes hard to pay the rent.” ""