I hope you are right JWM but I have so little faith that that poor bastard in the heartland would even know who fannie and freddie are because they don’t sponsor a Nascar driver. I would say that congress traditionally hates California and won’t bail us out but everyones 401k is taking a hit because of it so it will probably pass. Doesn’t matter, it won’t change a thing, interest rates were low and toxic loans were plentiful when this thing started to go south, neither will save it now. It was the affordability and the shattering of the illusion that things would always go higher that killed real estate, this is CPR on a patient with no head. Raising the conforming limits won’t bring back subprime either. The band aid is coming off either way, now they have to decide if the want to rip it off or peel it slowly.