I'm surprised that the financial geniuses in these parts have left this story alone so far today. I was waiting to read what they had to say.
http://www.economist.com/finance/dis...ry_id=12078933
This is a pretty huge development, IMO. While it's clear that the feds had to do something to keep Freddie and Fannie afloat, I'm a little sick when I think of how much it might cost taxpayers in the long run.
Meanwhile, their executives have been extremely well paid (e.g.
http://www.msnbc.msn.com/id/25740405/)
I don't know how all the ramifications will play out.
PS - maybe I should have put this in current events. Sorry if it's misplaced.