Payroll Tax Cut Extension To Come From Bizarre Raid On Fannie and Freddie

``The fee may make a new loan unaffordable for some people, but the effect probably would be modest, said banking analyst Bert Ely of Alexandria, Va. The bigger effect will be on the government's ability to overhaul the housing finance system, which most analysts said is needed... David Stevens, president of the Mortgage Bankers Association, said a fee increase would be fine - if the money were used to offset losses at Fannie and Freddie. But diverting the money to other government uses is a bad idea, he said.'' -- Well, guess we have our acknowledgement that Fannie and Freddie aren't just "in conservatorship" -- they are full-fledged government bureaus.