2 posts tagged “beer”

Ballwin, St. Louis,

20 July 2008

Dear ..........,

Fannie Mae, Freddie Mac, Indy Mac, InBev, Anheuser Busch, Budweiser were the funny words (for me) appeared in print and electronic media during the past fortnight in the US.

I could not understand what all these words mean?

Slowly, I started reading the newspaper and listen to radio, of course, my favorite National Public Radio (NPR) in order to have an insight into the whole matter.

Finally, I succeeded in digesting these above words and now I wish to communicate to you.

Fannie Mae and Freddie Mac are the mortgage giants owning 5.3 trillion dollars in mortgages.

They used to earn lot of money in terms of billions of dollars.

Suddenly the stocks of these companies started slipping and made the mortgage market in a mess.

If affected the real estate business and the impact was very great.

The Federal Government is trying to rescue these dying giants in order to regulate the American economy.

Not only that, the economists and financial experts is working day and night to rescue these two titan companies.

IndyMac is one of the large banks failed suddenly.

One fine morning the customers after reading Pasadena Star News started withdrawing about 1.3 billion dollars from this bank.

The financial stability was shattered and the bank was taken over by the Federal Government.

It announced that customers need not worry because a deposit of $ 100,000 is insured, and above which will be having problems.

This statement could satisfy some of the customers who had only deposits below the target amount.

However, more money is locked up and people were disappointed.

InBev NV is a Belgian-Brazilian beer company, after long bargaining taken over the 150 year-old St. Louis Anheuser-Busch Company by paying 5.2 billion dollars.

Budweiser and Bud Light are the household names of American beer in characteristic glass bottles.

The new company is named, as InBev-Anheuser and it will produce the Budweiser, Bud Light in addition to InBev’s Stella, Artois and Becks.

All these events happening one after another just before the Presidential election in November 2008.

Yours,

NARA