“It was always safe to buy these [GSE mortgage-backed security] notes,†he said. The U.S. government was always going to stand behind them. They’re as good as Treasury notes.†We are no longer sure this is the most inspiring comparison.
–“Marla Singer” in this post at Zerohedge about the unheralded Christmas 2009 expansion to infinity of the federal government’s backstopping of Fannie and Freddie’s losses