Can anybody have predicted that Fannie and Freddie would come out with a plan to refinance ridiculous numbers of mortgages that are 90 days behind on payments? Not so much. It sounds great, but I really wonder how that feeds down the pipeline to all the crap that sliced and diced it for CDOs and other mortgage backed securities. Then how does that interact with the TARP when that kicks into effect? Questions for after work research!