Secretary of Treasury wants to bail out Fannie Mae and Freddie Mac--Bloomberg.com: Worldwide: "July 13 (Bloomberg) -- Treasury Secretary Henry Paulson sought blanket authority from Congress to buy equity stakes in and lend to Fannie Mae and Freddie Mac, aiming to stem the collapse of confidence in the largest sources of U.S. mortgage financing."
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He also wants the Fed to have a "consultative role." Here is the definition of the verb " to screw up":
To harm irreparably through inept handling; make a mess: ball up, blunder, boggle, botch, bungle, foul up, fumble, gum up, mess up, mishandle, mismanage, muddle, muff, spoil. Informal bollix up, muck up. Slang blow1, goof up, louse up, snafu. Idioms: make a muck of.
I think that is helpful in understanding the current housing market situation.
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