So now fannie's problems and freddie's problems are now my problem too, since they will use billions or maybe even trillions of our tax dollars to bail them out by buying them.
And if that isn't bad enough, the big three (who are not so big anymore) also want to be bailed out.
This is nothing more than socialism for the rich.
The failure of these companies would be bad for the economy in the short term, but good in the long term, since they will cause money to be used more wisely and efficiently. If people will see that the government will not bail them out, they will not take stupid risks.
It is not the job of the federal government to protect people, or billion dollar corporations, from their own stupidity.