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since they will double debt with single pen stroke they are gonna let next presnd congress have responsibility fer it. i guess they need more time to figger out how ta cook tha books and make it disappear. since what started out as a 2B loan changed imto a 200B bailout -- and has now morphed into a 5T dollars takeover. can you spell - insolvency?
http://www.nytimes.com/2008/09/13/business/13fannie.html?_r=1&em&oref=slogin
U.S. Holds the Whip Hand in Modifying Mortgages
For much of the last year, Washington officials have been pressing the mortgage industry to modify home loans and avoid foreclosures. Now, the extraordinary government intervention in Fannie Mae, Freddie Mac and a growing number of banks puts federal agencies in the powerful, and awkward, position of deciding which borrowers will receive help and who will lose their home.For now, the federal budget will not include Fannie’s and Freddie’s liabilities, the Office of Management and Budget said on Friday. Including the debts on the government’s books would have doubled the national debt.
http://www.nytimes.com/2008/09/13/business/13fannie.html?_r=1&em&oref=slogin
U.S. Holds the Whip Hand in Modifying Mortgages
For much of the last year, Washington officials have been pressing the mortgage industry to modify home loans and avoid foreclosures. Now, the extraordinary government intervention in Fannie Mae, Freddie Mac and a growing number of banks puts federal agencies in the powerful, and awkward, position of deciding which borrowers will receive help and who will lose their home.For now, the federal budget will not include Fannie’s and Freddie’s liabilities, the Office of Management and Budget said on Friday. Including the debts on the government’s books would have doubled the national debt.
