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I was preparing to write a post on this, but DJ McGuire of RWL got to it first. It’s fairly provocative. DJ’s thesis?….
The transportation special session had barely ended when the troubles of Fannie Mae and Freddie Mac began to dominate MSM reporting (oddly enough, bloggers have been largely quiet about it). I mention that juxtaposition because it enabled a few things to come into focus and stark clarity, leading to one ominous, painful, yet inevitable conclusion: we must let these mortgage giants fail. That’s right: fail – as in declare bankruptcy, fall into receivership, have the assets unloaded, etc.
