the fallout from freddy and fanny, page-23

Starbust,

Exactly. This plan could easily backfire and US treasury yields will rise to current FNM/FRE yield levels instead of FNM/FRE yields coming down to match current treasury yields. This is when you will know that the situation is totally out of control - there will be nothing the government and treasury will be able to do to stem the tide at that point.

I am thinking Hank Paulson's Bazooka may have gone off before he even managed to get it out of his pocket.