Too big to fail?  Surely, if anyone (or two) fits this description, it’s Freddie Mac and Fannie Mae.  This week, news of pending bankruptcies, bailouts, nationalizations (insert your own rumor) were prevalent and worried investors chose to sell (and sell and sell) the two entities and most other related financial institutions.  Oil tumbled from recent highs early in the week (much to the delight of investors) before running back up to new records late in the week (much to the chagrin of investors).  Once again, financials and energy highlight the news (and the markets).  By the way, rumor has it that earnings season kicked off this week, but no one seemed to notice.  With Merrill, Citi and several other financials set to report next week, you can bet investors will be paying attention. 

Read More in And That’s The Week That Was, the Brounes & Associates market/economic commentary for the week ended July 11, 2008.

Coming up in the week ahead:  PPI (Tuesday), Retail Sales (Tuesday), CPI (Wednesday), Industrial Production (Wednesday), Fed Meeting Minutes (Wednesday), Housing Starts (Thursday).

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