I understand and approve of the Federal government "bailing out" the Federal Home Loan Mortgage Corporation (a/k/a "Freddie Mac") and the Federal National Mortgage Association ("Fannie Mae"). They are federally chartered corporations set up by Congress, "government sponsored enterprises" as they are called. And the "bailout" was actually placing both in "conservatorship" of the Federal Home Financing Administration (FHFA). There had been rumors and talk of troubles within both for some time -- over a year, as far as I know.