Not doing it would land us in the second great depression in a fortnight.
We may well get there anyway. GM and Ford are next, for instance...
It would have been better to let all the Mae’s and Mac’s collapse under their own weight. Instead we are going to double down billions propping up a quasi-socialist program and trying to fight the natural business cycle.
And where will this money come from? It’ll be borrowed from all the unsavory countries in the world the US is trying to step up to - Russia, China, and the Arabs.
Let Fannie and Freddie fall in their own right. It’s a free market right? Maybe Fannie & Freddie should’ve saved some of their gangbuster profits over the past few years for a rainy day.