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Morning Mortgage Meltdown: Greenspan Has Some Words

Former Fed chairman Alan Greenspan calls the government response to the tanking of Fannie and Freddie "bad." Why? They should have nationalized the sibling enterprises, then auctioned them off to private investors "as five to 10 privately held units." Geez, it's hard enough not mixing up the two of them as it is. Greenspan also predicts housing prices will bottom out sometime in the first half of 2009. [WSJ]