Plus since 9/11, the economy was doing fine, until Congress protected Freddie Mac and Fannie Mae. 
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Selected and fresh photos from around the web.
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Editor's pick
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BASRA, IRAQ - OCTOBER 18: People gather around a Land Rover as it arrives at the village Al Houta on October 18 2008 near Basra, Iraq. The trip by the 51 Sqn Royal Air Force Regiment Force Protection Wing was part of a 'key leader engagement' (KLE) visit to the village close to the Basra Airbase to recruit local labour and engage with the village shiek. Visits of this type are seen as key in efforts to continue winning the support of the local Iraqi population. Although improved security in the region has brought some benefits such as improved trade and commerce, much of the infrastructure remains in a poor state of repair. Britain's Prime Minister Gordon Brown has indicated that the number of UK troops could be scaled down - especially as the security situation in the south of the country continues to improve.
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Democratic presidential nominee Senator Barack Obama (D-IL) speaks during a campaign rally in the rain at the University of Mary Washington in Fredericksburg, Virginia, September 27, 2008.
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A puppy stands on a truck carrying people to be evacuated from the area in preparation for the approach of Hurricane Gustav in Batabano, on the southern coast of Cuba, August 30, 2008. Powerful Hurricane Gustav roared toward western Cuba on Saturday with 125 mph (205 kph) winds on its way to the oil-rich Gulf of Mexico after a deadly pass through the Caribbean.
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BANGKOK, THAILAND - AUGUST 30: A member of Anti-government People's Alliance for Democracy (PAD) stands behind barbed wire outside Government on August 30, 2008, in Bangkok, Thailand. The protesters want to unseat the seven-month old coalition government lead by Prime Minister Samak Sundaravej.
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Hot off the wire
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Shiite Muslims flagellate themselves with chained knives during an Ashura procession in Calcutta, India, Thursday, Jan. 8, 2009. Ashura, or Ashoura, the tenth day of the lunar Islamic month of Muharram, is marked by Shiite believers as the day that Imam Hussein, the grandson of prophet Muhammad and one of their most revered saints, was killed in the battle of Karbala in the year A.D. 680.
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Palestinians take part in a protest in the West Bank village of Bilin near Ramallah against Israel's offensive in Gaza January 8, 2009. Several rockets fired from Lebanon struck northern Israel on Thursday, slightly wounding two people, police and medics said, in an attack seen as linked to Israel's war on Hamas Islamists in the Gaza Strip.
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UN soldiers serving with the United Nations Interim Force in Lebanon (UNIFIL) and a Lebanese soldier (L) inspect the site believed to be where rockets were fired at Israel from the village of Tayr Harfa in southern Lebanon on January 8, 2009. Rockets slammed into northern Israel from Lebanon today, with Hezbollah denying responsibility for the attack that sowed panic on both sides of the tense border.
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Recently starred
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WASHINGTON - JANUARY 07: U.S. President George W. Bush (C) meets with President-elect Barack Obama (2nd-L), former President Bill Clinton (2nd-R), former President Jimmy Carter (R) and former President George H.W. Bush (L) in the Oval Office January 7, 2009 in Washington, DC. On January 20, 2009 Barack Obama will be sworn in as the nations�s 44th president.
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North Korean leader Kim Jong-il (2nd R in the front row) visits the Chollima Steel Complex at an undisclosed location in North Korea, in this undated picture released by the Korean Central News Agency (KCNA) December 25, 2008.
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Balloons with anti-North Korea leaflets released by former North Korean defectors and anti-North Korea activists fly towards the North in Imjinkak pavilion, near the demilitarised zone (DMZ) separating the two Koreas in Paju, about 55 km (34 miles) north of Seoul, December 3, 2008. Dozens of activists, who demanded improvements of North Korea's human rights and the release of South Koreans abducted by the North, launched about 90,000 anti-Pyongyang leaflets in helium-filled balloons near DMZ on Wednesday.
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An Israeli woman and her two children take cover during a rocket attack near Kfar Aza, just outside the northern Gaza Strip January 7, 2009. The woman came to meet her husband, an Israeli army officer currently serving on the Gaza border. Rockets exploded as they were waiting for him. Israel postponed on Wednesday a decision on whether to order its armed forces to storm the Gaza Strip's urban centres, an Israeli official said, citing Egyptian- and French-led efforts to secure a truce with Hamas.
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Quotes about Fannie Mae
Plus since 9/11, the economy was doing fine, until Congress protected Freddie Mac and Fannie Mae.
was said
Both Fannie Mae and Freddie Mac have dedicated programs for financing student housing; they've studied the prototype and they like it because it is perceived to be less risky than conventional apartments ... Admittedly, we are in unique times, but through past economic cycles, student housing has weathered pretty well. It doesn't really suffer the ups and downs like the general economy does. We've been at this for 44 years now, so we can speak with authority about recessions and the viability of student housing through those times.
said Paul Bower
I think this is a case where Fannie Mae and Freddie Mac are fundamentally sound. They're not in danger of going under.... I think they are in good shape going forward.
was said
in FOX Business
We welcome the fact that the just-released Home Valuation Code of Conduct will improve the independence of appraisers who value properties collateralizing residential mortgage loans purchased by Fannie Mae and Freddie Mac
said Jay Fishman
Quotes from articles mentioning Fannie Mae
If you oppose us, we will fight publicly and fight hard, and do not think that your share price will do well with all of the forces of the government arrayed against you.
was said
in Vanity Fair
The old political reality was that we always won, we took no prisoners, and we faced little organized political opposition
was said
in Vanity Fair
