Reply #6: Had lunch with a few Freddie Mac people today... [View All]

[Virginian]

Sitting with two accountants, I overheard one tell the other that one of the former big wigs had told him weeks ago that the action would depend on the polls. If the Republicans thought McCain had no chance, they would take no action and let Obama deal with it. If the race was close, they would try to take care of it so as not to leave a mess for McCain.
Also, the $7 kazillion does not include Freddie and Fannie. They did not take as many chances as some of the others. The bail outs are for their riskier competitors. Freddie and Fannie may not need any monitary assistance.