This is a special Fannie Mae/Freddie Mac edition since they’re the big story today:

• The Washington Post gets into the many angles of the rescue and their effects on the economy.
• Barron’s thinks a full-blown nationalization of Fannie Mae and Freddie Mac would be good for the housing market.
• Robert Waldmann offers an interesting hypothetical for Fannie’s or Freddie’s CEOs.
• Peter Wallison is more worried about government-created moral hazard than a collapse of the two firms.
• Michael Mandel takes the cynical pessimists line by thinking Secretary Paulson is plugging the leaks to hold off a massive housing bailout the next President will have to deal with.
• Fannie Mae and Freddie Mac affect global economies because many central banks hold U.S. mortgage-backed securities.
• Arnold Kling sees the rescue as helping the housing bill more easily pass.
• Anarchy Lew Rockwell correctly blames government failure for this mess.

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