Fannie Mae, Freddie Mac and MSPs
I’m upbeat about the managed services market and the IT channel, but I wonder: Will the mortgage crisis at Fannie Mae, Freddie Mac and IndyMac Bankcorp (among others) begin to impact small business IT spending, lending to small businesses, and the IT channel as a whole?
Unfortunately, I think this is a dangerous time in the history of financial media. Many of us (myself included) spend considerable time reading IT media sites and investment gossip sites that feature perspectives and opinions — rather than in-depth investigative reporting.
If you’re ignoring the financial crisis and hope it goes away, check out some of this coverage:
- Fannie, Freddie Fallout: From Taxpayers to Wall Street to Main Street
- National City Plunges Amid Broad Bank Fears
- Fannie, Freddie Are In Trouble: Should We Care?
Now — as concerns about a credit crunch mount — I find myself returning to old media (The New York Times, The Wall Street Journal) and their investigative teams for some clues on how the mortgage crisis will play out. Unfortunately, the coverage is all over the place.
As a small business co-owner myself, I try not to worry too much about stock market swings — up or down. But bigger trends, such as the mortgage crisis, are worth watching closely. If the residential mortgage crisis begins to spill over into the commercial market, small businesses could have a more difficult time borrowing money to fund new ideas.
That’s just a thesis — or a fear — of mine. But I wonder: Are VARs and small businesses starting to worry about a credit crunch?