The Wall Street Journal - Should Fannie Mae and Freddie Mac be nationalized?

"This is the nightmare scenario for taxpayers."

From a WSJ Review and Outlook piece:

In the good category, Treasury Secretary Hank Paulson swatted back reports of a government "nationalization" of the companies – which would mean making explicit what has long been an implicit taxpayer guarantee of their liabilities. This would instantly add $5 trillion in liabilities to the federal balance sheet, doubling the U.S. public debt burden and putting America's AAA credit rating at risk. This is the nightmare scenario for taxpayers.

Posted on 7/14/2008 3:57:43 PM by jas225Approved 7/17/2008 5:51 PM