Freddie Mac and Fannie Mae Quick Fix Could Cost Taxpayers

``Although Fannie and Freddie are public companies, they both enjoy the benefit of an implicit government guarantee. They have previously used this guarantee to engage in arbitrage and teansfer risk to taxpayers. If Freddie and Fannie fail--and let's face it, increasing their power almost guarantees that they will--taxpayers will be forced to pick up the pieces.''