A lot of banks own a lot of Fannie/Freddie equity. With the govt now owning temporarily Fannie/Freddie and preparing to to take over even more failing banks and other financials, it looks like the door is about to open for the hedge funds to step in and start buying up these banks and financials...something they've been wanting to do in order to qualify for what now amounts to an implicit and now EXPLICIT "Federal Guarantee" of a bailout when(not if, when)they find it financially expedient to "fail" for whatever reason.
In other words...we're not only taking on the liability of Fannie/Freddie and god only knows how many failed bands, but also hedge funds that manage to step in and take these banks off the hands of the Fed Govt.
Talk about a slippery slope! Where does this stop? Will be be bailing out not only banks and financial institutions but soon adding non-transparent hedge funds and even entities like Ford/GM that are, in the words of the Treasury Secretary, "Just too big to allow them to fail."?
McBUSHIE'S choice of Palin was irresponsible, dangerous and insulting to America's intelligence. That choice and his continuing smears/lies prove he'll do anything to win this election even to the point of endangering his own country.DEFEAT HIM!
