(no subject)

S.O.B.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aBY8f3smq5k0&refer=home
http://www.nytimes.com/2008/09/06/business/06fannie.html?hp
"Under a conservatorship, the remaining common and preferred shares of Fannie and Freddie would be worth little, and any losses on mortgages they own or guarantee could be paid by taxpayers. A conservatorship would operate much like a pre-packaged bankruptcy, similar to what smaller companies use to clean up their books and then emerge with stronger balance sheets. "

All the executives and the boards are axed, all the debt belongs to everyone in the US that pays taxes.


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