Then you are going to find out what suffering really means!!!!
"Bank of China pares Freddie, Fannie stakes" by Bloomberg News | August 30, 2008
NEW YORK - Fannie Mae and Freddie Mac fell yesterday after Bank of China Ltd., that nation's third-largest bank, said it pared its holdings of the mortgage-finance companies' debt as they faced growing losses and the potential need for a US government bailout.
Asian investors are retreating despite Treasury Secretary Henry Paulson's pledge on July 13 to provide government support to Fannie and Freddie should their financial conditions deteriorate further.
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Translation: The Asians have no confidence in Paulson's plan (an $800 billion taxpayer bailout) when the U.S. is already swimming in red ink.
