Part 1 is here.    Waiting for the announcement – probably Sunday night.

thanks Tick Talk

ALSO HAS VIDEO:  Freddie ‘n Fannie “rescued” as Americans Perish – good thoughts – Don’t want to be an American Idiot?  Sorry, as of today, it’s too late. … – Tick Talk

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GSE Rescue: Spare the Moral Outrage – Alan Brochstein - AB Analytical Services

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MR Mortgage is not happy:  Fannie/Freddie MBS: Have You Ever Seen One? Bill Gross Must Not Have.

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David Kotok on GSEs and Moral Hazard – why bailing out the preferreds would increase moral hazard risk  – Cumberland Advisors   (available Monday)
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Fannie And Freddie Comments -  I’ve said so much about this Fannie and Freddie disaster I don’t really feel like adding much more until I see the actual plan (not just rumors about what is going to be in it).  However, I do have a few quick takes: – has 9 thoughts – Mike Steinhardt – HedgeFolios 

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copy of letter to Paulson:  Bill Ackman explains and repeats his plan for GSE bailout – Wall Street Manna

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Friday Afternoon Is Bad News Time -  If you’ve been paying attention, the Fed likes to release bad news after the markets close on friday afternoon. The past couple weeks, they’ve announced the failures of small regional banks.  Well today, they announced something just a little bit bigger – the government bailout/takeover of Fannie Mae and Freddie Mac, the two large mortgage finance guarantors. – A VC Musings of a VC in NYC  http://www.avc.com/a_vc/2008/09/friday-afternoo.html