Friday, September 05, 2008

Fannie And Freddie Get Eaten

The bumper sticker version is probably the right thing given my knowledge (which is not great enough to really judge), but as with everything the devil is in the details and the Bushies are in charge of the details...

Breaking News 9:01 PM ET:
Government Preparing Plan to Seize Fannie Mae and Freddie Mac, Officials Say

(ht p o'neill)

...WaPo has more. They're firing the top executives which is good, though I'm not sure why common stock shareholders won't be wiped out completely. Preferred, too.