Will Someone Please Put a "Hit" on Fannie and Fred?

Ever get stuck with something you really, really didn't want to get stuck with? Sure you have. We all have. And, when it comes to those darlings of the mortgage world, Fannie and Freddie, we are so stuck with them, they almost seem to have been written into the Constitution, sort of like another branch of government.

In some ways, they are.

As a depressing Wall Street Journal article points out, just about a year and half after Fannie Mae and Freddie Mac jointly got their first big fixes of federal bailout money, there appears to be, as the Journal neatly headlines it, "No exit in sight."

Fannie and Freddie have become those unwelcome guests who won't leave and can't seem to be convinced to go home!