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America, Too Big to Fail . . . Probably by Nicole Gelinas, City Journal 16 July 2008
The feds can bail out Fannie and Freddie, but who will bail out the feds? The taxpayers’ predicament over Fannie Mae and Freddie Mac is already grave enough . The Bush administration has asked Congress for a massive rescue package for the twin “government-sponsored” mortgage investors and insurers, ...