Go ahead get yourself into massive debt that you can't afford, the American dream

[ProfitTakgFool]

You are exactly right. On one hand, these two giants need to go under but letting them go under would mean massive unemployment, and a depression at least equal to the one in 1929. The housing market would cease to exist, which, in turn, would also crush the financial markets. It would be a widespread economic disaster.

Quote from indahook:

I am total free market guy. And believe in letting failure occur as a natural result of poor business decisions. For people and corps.

However...

"Fannie and Freddie back or own almost half of the nation's mortgages — about $5 trillion worth."


If these two failed there probably wouldnt even be a market for us to trade. A total economic collapse leading to a couple generations of rebuild would most likely be the result.

As a taxpayer I am sitting back gritting teeth. And as a man who pays his mortgage timely I despise those who got in over their heads.

In this case failure is simply not an option.