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U.S. Doubles Fannie, Freddie Backing to $400 Billion
IEHI Feed: The Hedge Fund Implode-o-Meter — U.S. Doubles Fannie, Freddie Backing to $400 Billion (washingtonpost.com) Search Enter your search terms Web HF Submit search form 2009-02-19 " The federal government yesterday doubled its commitment to Fannie Mae and Freddie Mac, promising to reimburse the companies for up to $400 billion in losses on their investments in mortgage loans." ...

Links 2/19/09
naked capitalism — ... U.S. Doubles Fannie, Freddie Backing to $400 Billion Washington Post. Clarifies previous commitments versus changes and additions by Team Obama ...

Against stupidity …
Paul Krugman — The most valuable lesson I learned from the year I spent in Washington (1982-1983, on the staff of the Council of Economic advisers — I was the senior intl economist, the senior domestic economist was a guy named Larry Summers. What ever happened to him?) was the extent to which senior government figures have absolutely no idea what they’re talking about. So when I read something like this :“Why should we reward Fannie Mae and Freddie Mac with $200 billion in taxpayer dollars without first reforming these housing entities that were at the heart of the economic meltdown?” House ...