I could hardly believe the headline on my mobile phone early this morning. The federal government is actually going to bail these two companies out.
All their lobbying, stock options, million dollar salaries for executives - gone in a few weeks, we can only hope.
Fannie Mae and Freddie Mac will be officially in government care - or receivership - akin to chapter 11 bankruptcy. They will be reorganized - managers and board members fired and new blood brought in to turn things around.
The government will infuse cash as needed - yes, cash from yours and my tax dollars, until such time as they become solvent - we can only hope.
Isn't there a federal penitentiary out there somewhere for whoever the hell was at the helm of this ship when it started sinking?