Congress Mortgages the Economy’s Future to Save Fannie Mae and Freddie Mac
July 29, 2008 at 10:45 AM EDT
With President Bush no longer threatening a veto , the subprime mortgage and Fannie Mae (FNM) and Freddie Mac (FRE) “bailout” bill sailed through Congress. In anticipation of its enactment, Congress had the foresight to raise the national debt limit to $10.6 trillion.…