It is 2012 when the Federal Reserve and the US Treasury will realize that the unthinkable Titanic has sunk and with it went more than three trillion dollars in ballooning budget deficit.
According to savvy smart money investors, Taxpayers will be saddled with debt if Congress approves U.S. Treasury Secretary Henry Paulson's request for the authority to buy unlimited stakes in and lend to Fannie Mae and Freddie Mac.
Does Paulson have a choice at this stage? He really does not have a choice. He has to keep the ship afloat and for that he can borrow from the future knowing well very few in the past Administrations are held countable in America for their failed and senseless policies.
Can Paulson’s plan really save Fannie Mae and Freddie Mac?
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