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Flexed their muscles. they have large invest in the the two mortgage giants fannie mae and freddie mac which were taken over from the federal government after trillions of losses chiechltna and japan made it clear they expected the u.s. to guarantee every last dollar. >> most americans don't know it. the fact of the matter is the reason the taxpayers are now on the hook for $5 trillion in con stin gent liabilities for -- contingent liabilities for fannie mae and freddie is the chinese and japanese demanded it. >> reporter: if we said no they might have been less willing to loan us more money, ...

Flexed their muscles. they have large invest in the the two mortgage giants fannie mae and freddie mac which were taken over from the federal government after trillions of losses chiechltna and japan made it clear they expected the u.s. to guarantee every last dollar. >> most americans don't know it. the fact of the matter is the reason the taxpayers are now on the hook for $5 trillion in con stin gent liabilities for -- contingent liabilities for fannie mae and freddie is the chinese and japanese demanded it. >> reporter: if we said no they might have been less willing to loan us more money, ...