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FNMA/FHLMC Bailout?
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Treasury Secretary Paulson, congressional leaders, and some economists are all calling for a bailout for FNMA and FHLMC(Fannie Mae and Freddie Mac).
Steve Forbes was on the radio Monday proposing a Federal Reserve-type configuration for these morgage backers.
No consensus but a lot of agreement that something has to be done...and probably done soon.
The coming days and weeks will speak volumes about the willingness of Congress to act. This is an issue that they(Congress) may not be able to avoid. They may procrastinate and drag their feet about drilling for oil and drilling now, but they probably are going to have to deal with this problem soon.
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