What's another $5 billion when we're throwing billions around everywhere and anywhere. The total lack of fiscal discipline during the GOP years is an even larger problem now that we have a financial market that is falling apart, requests from Detroit for a bailout and others in the queue.
The U.S. Treasury expects to purchase $5 billion of Fannie Mae and Freddie Mac mortgage-backed securities within the next month as part of its takeover of the mortgage finance giants.
Senior government officials told reporters in a news briefing the program would be the first taxpayer cash outlays associated with the plan to put Fannie Mae and Freddie Mac into a government conservatorship.
