The American Spectator : AmSpecBlog : The $400 Billion Scribble: A Good Idea:
Texas Rep. Jeb Hensarling, according to the WSJ, changed the definition of 'financial company' to include Fannie Mae and Freddie Mac. As Politico explains, this means that they would be subject to the same resolution authority that dictates the liquidation process for failing banks. 'This process is paid for by the sale of the failing company's assets and/or through assessments on other financial companies, possibly putting the Street in line to pay for the liquidation of the troubled housing giants.'"
Thursday, June 24, 2010
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