Late on Sunday the US government confirmed that they would be providing a bail out service for Freddie Mac and Fannie Mae, the US based mortgage lenders.
In a nutshell, the credit crisis has become so deep, that two of the worlds biggest lenders are in such serious trouble that the US government has had to come to the party to help keep them afloat. The reality is that if they collapse, then a massive chunk of the US lending market goes with them.
I'm torn on the issue - not sure whether they should be allowed to die a 'natural' death as a result of their own lending practices or whether they should be bailed out for the greater good...
What do you guys think?
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