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Economic Stimulus In the Bag

In the off chance that you haven't yet heard, as part of its (approved 81-16, soon-to-be signed) $186 billion stimulus package, government-sponsored lenders Fannie Mae and Freddie Mac will be allowed to buy bigger, badder, and better loans— in the amount of up to $729,00 in a town like ours. (Up— way up— from the usual $417,000 limit.) The increase, obviously (and arguably) designed to help struggling homeowners comes as part of a larger plan that promises Christmas in May, with the delivery of checks ranging from $600-$1200 to over 111 million Americans. Spend, spend, spend! [Bloomberg]