Quote:
Originally Posted by Tyrone Slothrop
It was understood for a long time that Fanny and Freddie had implicit government guarantees -- it's not like that's something that Obama (or Bush) invented when things went south.
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Indeed. The banks also had been underpaying for FDIC insurance going back at least to Bush I. Of course, now the banks without problems have jacked up rates and the screw-up mega-banks are looking for favors.
