Something Feral

Digging up the flower-beds.

Friday, July 11, 2008

In other news, Titanic "too big to sink".

Looks like their ship has come in.

Fannie Mae and Freddie Mac, the largest buyers of U.S. home loans, are too big for the government to let them fail, leading Republican and Democratic lawmakers said.

The government-chartered companies, which own or guarantee about half the $12 trillion of U.S. mortgages, can count on a federal lifeline, said Republican Senator John McCain, of Arizona, and Democratic Senator Charles Schumer, of New York.

"Everything's cool, guys. We'll just print more money. What could possibly go wr-..."

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