Ho hum. It's only money. Hold the hysteria a while longer.

Officials briefed by the Treasury Secretary said Congress could be asked to extend the total line of credit to the institutions to $300 billion. The two companies touch about half the U. S. mortgages, either holding or guaranteeing them.

The debt securities they issue to finance their operations are widely owned by foreign governments, pension funds, mutual funds, corporations and other institutional investors.

If the companies can't stand the heat, the last ditch effort would be to appoint a conservator. Failure would result in dire problems for the world's economies.

http://www.nytimes.com/2008/07/14/washington/14fannie.html?th&emc=th