Remember a few months back, when Britney Spears went completely batshit insane and the court placed under a conservatorship controlled by her father? (C'mon, admit it— you read Us magazine while waiting on line at Safeway, plebe.) Let's draw a quick analogy here: In the following narrative, Freddie Mac and Fannie Mae stand in for Britney Spears. Britney's breakdown is akin to Freddie and Fannie's current stock crisis; shares have plummeted even further since yesterday — 41 percent for Freddie, and 36 percent for Fannie. George Bush stands in for Britney's dad, as he has vowed to overtake both companies and place at least one under conservatorship if they don't clean up their act, pronto. As Britney has remained on relative lock down, losing press by the second, Bush's plan for Freddie and Fannie would render their stocks nearly worthless— and put the screws on taxpayers. The administration has also proposed a government guarantee on the $5 trillion in debt owed or guaranteed by Fred&Fan, which would tighten those screws even further. And here's where Britney Spears exits stage left ...
· Fannie and Freddie Shares Fall by as Much as 50 Percent [NYT]
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