CauseWithoutARebel's Journal: Stocks are up on news that you...

... will soon by buying shares of a company that's only going to survive because the rest of your money is quickly becoming worthless.

Wow....

So, Fannie and Freddie now have more credit and, maybe, you as an investor.

What's that? You think FNM and FRE are too risky, so you didn't buy shares? Well, the Treasury thinks that's just a darn shame and you should have some, whether you like it or not. They're going to ask Congress for the ability to purchase shares of Fannie and Freddie - with your money - if their "pay one credit card with another" style bailout doesn't get other investors on board the Titanic.

Don't get me wrong, I realize that an outright failure of Fannie and Freddie could spell disaster for the banking industry, and that would effect all of us, but there's still that feeling I can't shake... that feeling as if someone is jingling around the change in my pocket and it's not me...

For decades now the fed has been very vocal about the fact that they're not obligated to bail out the GSEs, but everyone has known for a long time now that if something like the current crisis ever came (actually, Freddie and Fannie have been in trouble before when housing values contracted, and they took a nasty hit in the S&L scandals too) the government would step in with our money and make sure they stayed solvent.

So, drink up, friends. If the fed's almost-free money handout - which devalues the currency already in your bank account and makes things harder for you indirectly - doesn't save these behemoths, they're ready to make the ultimate sacrifice in one last ditch attempt to rescue them: your money, your wallet, your future.

If nothing else, there's a lesson here: just spend all your money as you get it, because you're going to be penalized for other people's bad behavior if you don't.