Mortgage rates fell sharply Monday, as investors reacted to the government's takeover of Fannie Mae and Freddie Mac. Perhaps the government should also consider a takeover of Exxon-Mobil and Chevron-Texaco.
The government's historic bailout of Fannie Mae and Freddie Mac on Sunday will be good news to the flagging housing industry. John McCain said he supports the bailout of Fannie Mae and Freddie Mac. After all, an improvement in the housing market will help McCain obtain that much needed eighth home.