William Z,
So you went to the "Book Lurnin is for Sissies" School of Ignorance?

Understand that this is smart and needed and will finally allow the economy to move forward. Obama is not doing anything more than recognizing the loss of value that exists. Fannie and Fredie have the exposure on their balance sheets already, all this would do is allow recognition from an accounting standpoint. No new dollars go in it is a recognition of what exists issue not a pay new dollars issue. This is the other shoe waiting to drop. By having Fannie and Freddie do this first, it softens the shock to the system. This will allow people and businesses to move forward into the new world. If you dont benefit directly, c'est la vie, life is not fair; but lets not be colossally stupid to be what you call fair. This is a good thing