Fannie n Freddie = Global Disaster

Last night on NPR there was a story talking about What If… Fannie and Freddie went out of business?

The MSM has done a great job of kepping the public from getting scared, running on their banks and taking out all thier cash. Did you know that FnF hold $5Trillion dollars in debt?

That’s the largest debt ever held by any private company in history. It’s larger than any other country’s debt, with the exception of that of the United States., according to NPR

Allowing Fannie Mae and Freddie Mac to collapse would have been akin to letting Japan or the United Kingdom go bankrupt. Global economic leaders say even those unimaginable scenarios would have paled beside the fallout from a Fannie/Freddie implosion.

“The bankruptcy of Fannie and Freddie would have meant Armageddon,” said Domenico Siniscalco, former finance minister of Italy. He added, “Meltdown of the financial system, the global financial system.”

You can listen to the story yourself here