Looking over the edge
(NYTimes) U.S. Rescue Seen at Hand for 2 Mortgage Giants
I think it's very important to note how they're doing this, releasing it as a leaked "trial balloon" on Friday after the markets closed. Not enough specifics to make a really solid judgment and two days to get used to the idea before markets open Monday.
The idea is so market jolting that they're trying to introduce it as softly as possible. Oy.