Here's your answer:

Calculated Risk and others (e.g. Dean Baker) are puzzled over Treasury's Christmas Eve announcement that they would provide unlimited support to Fannie Mae and Freddie Mac for the next three years.

A commenter at CR writes:

Once you accept that the goal of the administration is to try to preserve the status quo for cronies by moving all possible bad debts over to taxpayers, no exotic explanation is needed. This is just another logical step.

posted by Quiddity at 12/29/2009 02:59:00 AM