In the dark of night...

Ouch...another $25 billion down the drain. Late last night - maybe to avoid a stock market crash - the government announced they are negotiating a bailout for Freddie and Fannie. After hours trading saw declines of 20% - 25% of their stock prices. Stay tuned for Monday.

Here's a link to the AP story on yahoo.com

"The news also followed a report Friday by the Mortgage Bankers Association that more than 4 million American homeowners with a mortgage, a record 9 percent, were either behind on their payments or in foreclosure at the end of June."

Here's the Wall Street Journal article.

Do you think these taxpayer funded bailouts will help the economy?