[Gaffer]

F&F did not operate on taxpayer money. It operated on fees and profits from mortgage buying, bundling, and selling

One last thing before I go on this. Who do you think is bailed F&F out from 2008/2009 and who will bail them out for the $50+Billion they are already in the hole now for this year?

[Gaffer]

Update: It was worse than I thought...this from Business Week...

.....That assumption proved accurate when the subprime mortgage crisis threatened to bankrupt both Fannie and Freddie because of the hundreds of billions of bad investments they hold. Recently, Business Week reported that the ongoing federal bailout of Fannie and Freddie exceeds $145 billion, with no end in sight and projections totaling a $1 trillion credit extension by the end of this decade. To put that in perspective, $145 billion is more than Congress spent bailing out American International Group, General Motors or Citigroup, all of which are now paying down their debts to taxpayers.

[xzins]

Should the toilet paper company turn down a contract to supply them with toilet paper?