Nobody Panic: Government Seizes Freddie Mac, Fannie Mae

Nobody Panic: Government Seizes Freddie Mac, Fannie Mae

Oh dear, all that talk about Freddie and Fannie being “adequately capitalized” was utter bullshit and the government has now announced plans to place the failed government sponsored enterprises into conservatorship. That means the fate of the housing market and the global economy rest squarely on the shoulders of U.S. taxpayers.