#8. Fannie Mae and Freddie Mac
Biggest bailouts are yet to come
Money is pouring out of these bottomless reservoirs of taxpayer dollars at a rate few of us can comprehend. Fannie Mae and Freddie Mac have received $145 billion of government capital in less than two years. In case you forgot, Fannie and Freddie needed this money because these federally chartered companies made reckless bets on housing, particularly subprime borrowers. Executives concede that they will need much more as they struggle to shore up a sinking U.S. housing market. Estimates of the total cost range as high as $1 trillion.
If that's not enough, the White House and Congress are so afraid of upsetting this fragile political ecosystem that they haven't even begun the process of fixing the mess. BP looks like a paragon of responsiveness by comparison.
Last updated July 02 2010: 11:38 AM ET
