Rumors via the Wall Street Journal are circulating about a Treasury plan to bailout Fannie and Freddie. What took them so long? Bill Gross did his rant yesterday. If the rumor is true, then the government looks (at least to me) that it is being told what to do, whether that is really what is happening or not.  Appearances are important. The timing is what it is whether you like my association or not. Maybe we could just make it official and give the holders of Fannie and Freddie debt the titles of co-Secretaries of the Treasury.