Takeover raises disturbing issues

The government's rescue of Fannie Mae and Freddie Mac may be a reassuring move in terms of crisis management, but it raises a number of issues that this New York Times editorial outlines. For example, the takeover highlights the need for an improved regulatory landscape for the U.S. financial markets. "As the housing bubble inflated, the Bush administration often claimed that America's unfettered markets were the envy of the world. But, in fact, they have sowed mistrust," the Times argues.

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