Oh jeez …
A quote from CNN coverage of President Bush’s press conference earlier this morning in which he discusses the recently-announced plan to help out Fannie Mae and Freddie Mac:
“I don’t think it’s a bailout,” said Bush, deflecting some criticism that the government should not rescue a private firm. “The shareholders still own the company.”
My one and only question: If the government is a shareholder (especially if they end up owning a large chunk of shares), isn’t it still a bailout?
