[Lurker]

But if they go on balance sheet, we will be FORMALLY revealed to have, by far, the highest debt to GDP ratio in the world. 90% is consider the breaking point, we are at 120%.

Nice to see someone else paying attention. From the article:

The government controls 79.9 percent of Fannie Mae and Freddie Mac, just shy of the 80 percent threshold for placing them on the federal books.

L

[Neidermeyer]

Here’s some light reading ... http://www.reoi.com/news/gse-foreclosures-and-short-sales-rising-despite-loss-mit-efforts