>This is quite unfair to the public shareholders. Admittedly they may not be the same shareholders, but let's not forget that Fannie/Freddie shareholders have

>This is quite unfair to the public shareholders. Admittedly they may not be the same shareholders, but let's not forget that Fannie/Freddie shareholders have benefited untold billions pre-crisis by being able to fund for years with an implicit government guarantee that was never paid for. http://www.federalreserve.gov/pubs/feds/2005/200505/200505pap.pdf http://www.federalreserve.gov/pubs/feds/2005/200505/200505pa...