Operation "Rescue Fannie" Underway - Paulson a Blatant Liar

7-13-08 • Michael Shedlock / Mish

"Operation Rescue Fannie" has now morphed into a taxpayer bailout of Bill Gross, China, and anyone else that levered into buying Fannie Mae garbage. It is a moral hazard to the highest degree, for bondholders to be made whole in this mess.