I suspect that is the trigger that will initiate the chain reaction that will eventually meltdown Fannie & Freddie. Any moron can see that there will be much more than 5% decline. When Fannie & Freddie fail, the catastrophic consequences will make the current problems seem minor. If the treasury tries to intervene and help, the virus can easily jump to treasuries, causing a $ collapse. 2008 will be one scary year.
