Don't Trust Snakes: . . . and force them to drop the stupid nicknames

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“I know where I'm headed.”

ROGER THORNHILL

Tuesday, July 22, 2008

. . . and force them to drop the stupid nicknames

The Economist made the good point recently that if Fannie Mae and Freddie Mac are to be bailed out at great cost to taxpayers, the taxpayers and not private investors should end up owning the upside. How about a convertible bridge loan with the conversion into a highly dilutive preferred stock. If Fannie, Freddie and their investors don't like that, they could go elsewhere for a bailout.

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