It looks like the next looming financial crisis might be with Fannie Mae and Freddie Mac. Thought I'd share this blog post I found from surfing some financial forums. It was buried in one of the many comments associated with a CalculatedRisk blog entry.
http://billburnham.blogs.com/burnham...-maes-gol.html
The post does a good job in summarizing how FNM capitalized on its quasi-Government status. It's a good read.