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Fannie, Freddie, FUBAR: The Mother of All Bailouts

by Riley Jones on Fri 11 Jul 2008 11:35 AM EDT | Permanent Link | Cosmos

Oh, triple-crikey. God save us from bipartisanship again. Washington is in a tizzy over the Fannie Mae/Freddie Mac financial crisis. The stocks plunged yesterday and a former Fed governor declared them “insolvent.” Keep an eye on the markets this morning for more freefall. Panicked Republicans and Democrats have joined clammy hands to declare their fealty to these behemoth government-sponsored enterprises because they are “too big to fail.”

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