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Frank retreats on debt
Link: http://www.nypost.com/p/news/business/frank_retreats_on_debt_QxHdyBmAR3nEcGXEzg5JnK#ixzz0hPkTDTf2
Powerful lawmaker Barney Frank had to pull his foot out of his mouth yesterday. The Massachusetts Congressman rattled investors when he said the US Treasury won't be responsible for bailing out investors holding the more than $5 trillion of mortgage-linked securities issued by Fannie Mae and Freddie Mac -- the ailing mortgage companies at the center of the junk mortgage crisis.
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