Shocked–SHOCKED– To Find Gambling in This Casino: Other Takes on Fannie and Freddie

The Economist on the general absurdity of the structure of the U.S. mortgage mkt:

http://www.economist.com/finance/displaystory.cfm?story_id=11751139

Politico on the estimated cost:

http://www.politico.com/blogs/thecrypt/0708/Fannie_

Freddie_bailout_may_cost_up_to_25_billion.html

Double sigh.  Secretary Paulson *still* hasn’t called for my help.  The nerve of those Goldman guys.

For the WSJ, Paul Gigot leaves on the field a lot of pent-up not-niceness:

http://online.wsj.com/article/SB121677050160675397.html

I still haven’t heard a single argument for why the equity shouldn’t go to zero.  The stock prices of F&F have to do neither with anyone’s confidence in the credit of the U.S. Government, nor with the stability of the housing market. 

Double sigh.  Secretary Paulson *still* hasn’t called for my help.  The nerve of those Goldman guys.