<![CDATA[U.S. Taxpayers on Hook for $5 Trillion of Fannie, Freddie Debt]]>

<![CDATA[U.S. Taxpayers on Hook for $5 Trillion of Fannie, Freddie Debt]]> U.S. Taxpayers on Hook for $5 Trillion of Fannie, Freddie Debt ... No Matter What Barney Frank Says

Bwarney Lies

House Financial Services Chairman Barney Frank caused a bit of an uproar Friday when he suggested the U.S. government does not guarantee the debts of Fannie Mae and Freddie Mac.

Rep. Frank later recanted and backed a Treasury Department statement reassuring investors that, yes, Fannie and Freddie Mae debt is guaranteed by the U.S. government. "Going forward," he said in a statement, we "will make sure that there are no implicit guarantees, hints, suggestions, or winks and nods...we will be explicit about what is and is not an obligation of the federal government."

And who was in favor of the bank bailouts?

How many banks failed last week?

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