Lowell Deeds

Today’s paper reads like a who’s who of the mortgage industry: Lehman Brothers, Washington Mutual, AIG or all in financial death spirals with the only question being whether potential buyers of the companies will balk unless there’s some kind of backing by the federal government. With the earlier governmental takeover of Fannie Mae and Freddie Mac, the US government has become the nation’s largest property owner. There’s no telling how this is going to end.