Fannie Mae Says It Won’t Be Prosecuted (WaPo)

[edna_mode]

Does anybody know more about this?

http://www.washingtonpost.com/wp-dyn/content/article/2006/08/24/AR2006082400639.html

I wonder if this could mean that 1) Sec’y of the Treasury Paulson has a plan to contain the systemic risk of the GSEs that doesn’t involve the Dept of Justice; or 2) the GSEs are really considered too big to fail, so normal laws of transparent accounting don’t apply to them.

[PerryChase]

Too big to fail.

Ford will also eventually be bailed out. Perhaps 2008 or 2012 elections? Ohio, Illinois, Michigan are important electoral states.

[powayseller]

Thanks for the link, edna-mode. Can you please post it as a link? Instructions for making links were just posted on the main piggington page. I swear, it takes only a couple minutes to learn, and with the “enable rich-text” option, no excuses to make us copy and paste anymore…

[Author]

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