They definitely need to do something about fuel prices but if they allow Fannie and Freddie to fail the fuel price problem will seem like nothing. Every major lender and almost every small one is holding Fannie and Freddie paper and if they fail you will see bank failures on a scale not seen since the depression. The economy would be devastated on a scale no one who was not alive during the depression can imagine. Unfortunatly, leaving the people holding the bag AGAIN in order to save Fannie and Freddie is definitely the top priority right now. Just wait and see what happens to the markets if this is still in doubt when they open on Monday.
