September 08, 2008 at 10:30 AM EDT
Treasury's Double Jeopardy
“I’ll take GSE’s for $200b Alex”“It screwed everyone involved including those who had no desire to get involved... but had no choice in the matter“"What is the Treasury’s GSE’s black-hole-from-hell conservatorship plan?”“Correct... you are our new champion!”I won’t be looking for that question on any soon-to-run Jeopardy episodes but the obscenity announced this weekend by Hank Paulson & Co. regarding -- Fannie Mae (FNM) and Freddie Mac (FRE) -- resets the bar in the art of throwing other people’s money down the rabbit hole and will certainly be worthy of future financial Trivia. The lowlights can be summed up as a $200 billion ...
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