Unprecedented Government Bailout

My title is just one way to put it. "Fannie/Freddie Shareholders Wiped Out" is another. Over the weekend, the U.S. Treasury announced it's plan to take over Fannie and Freddie to prevent bankruptcy and shore up the mortgage market. Basically, the government effectively now owns Fannie/Freddie and is using the taxpayer's balance sheet to keep the world's financial system from complete meltdown.