Fannie and Freddie: Failure-to-be Potpourri

Here is a smattering of late headlines related to the troubles and controversy surrounding the GSEs---there are just too many to post individually:

• Bloomberg--Snow Says Fannie Mae, Freddie Mac Followed `Hedge Fund' Model
• Fortune--The $5 trillion mess
• Fannie and Freddie Waterfalls Are Too Big to Bail
• NakedCapitalism--Fannie and Freddie: Conservatorship as Endgame?
• Mish--U.S. Taxpayer Bailout of China Over Fannie Mae

For something a bit more editorial, we recommend Bob Hoye's Too Big To Fail? from SafeHaven.