help me straighten it out, freddie is created to make sure funds are in the housing market in tough economic times, 1938 and that is not happening and why are they not working. >> it was fannie mae created in the depression, later, freddie mac but you hit the nail on the head. arthel. and that is, this has been a problem long in the making for the american taxpayer. now, worst-case scenario is that quarter of a trillion dollar loss that you were pointing out, that is if the housing market gets worse, now, a better scenario is the laws of only -- this is a loss for the american taxpayer, only $154 billion. if you need solace there. here's the problem, though. for years, fannie mae and freddie mac were buying or guaranteeing home loans that, when the housing market went bust the loans went bad and these two giants, frankenstein monsters had paltry cash on their books to cover them and the american government takes them over, but, they have