When he signed the recently passed financial regulation into law, President Obama declared, "No more bailouts, period." Well it turns out he didn't mean bailouts for government sponsored enterprises, Fannie Mae and Freddie Mac. This report from Wall Street Journal Video has the details:
These behemoth beneficiaries of state privilege were excluded from the giant financial regulatory law just passed and it turns out they were excluded from the no more bailouts promise as well. Together they are asking and will surely get another $3.3 billion from the government.
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