Saturday, September 06, 2008

Fannie, Freddie, Hannah and Ella

Say did you guys hear that the Fed is going to bail out Fannie Mae and Freddie Mac? Yup, our cash strapped government is going to come to the aid of these two mortgage giants ... isn't that wonderful? And it's only going to cost taxpayers ... well, there is no exact amount. The New York Times puts it this way:

It is not possible to calculate the cost of any government bailout, but the huge potential liabilities of the companies could cost taxpayers tens of billions of dollars and make any rescue among the largest in the nation’s history.

sigh...

In other news, those of us here on the East Coast are waiting on Hannah whose supposed to be dumping torrential rain and heavy winds on us any moment now .... uh oh, I feel a song coming on:



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