When I was an Advances Manager I was responsible for ensuring that the loans I made to customers were repaid. Now those that loan have no such responsibility - a sure recipe for disaster.

John Rennie, Beare green, Surrey

The bail out, as it's written now, will only be used if certain criteria are met and the 25 billion it costs is far less than the costs of a collapse by one or both of these institutions. I agree that it was irresponsible lending that led to this, but it'd be just as irresponsible to do nothing.

Kyle, Sioux Falls, USA

2 very simple reasons for a huge global financial crisis:
1. US citizens can borrow 100% of the cost of a house, whereas it's usually limited to max 80% in most developed countries
2. US citizens can walk away easily with a personal bankrupcy status, fully legitimizing irresponsible behaviour

Samuel, Paris, France

that's capitalism for you, sooner or later the state has to bail the moneybags out

peter c, devizes, wessex

remember AL CAPONE ?

Carlos dominguez, SANTIAGO, CHILE

With government becoming big government why cannot Fannie and Freddy Mac be staff funded?

Stephen Sand, Austin, MN

does the new bill raise the cap of 264,000 on the reverse mortgage does any one have this informatiion

ugene s adkins, miami fla, usa

Obama does not represent the American people. I was insulted by the reference to torture and immigration. It reflects his ignorance of reality and arrogance of opinion not founded in fact.

Gary Ellis, Cedar Rapids,

James, of the Confederate States. How nice to read your erudite comments. Of course, everone knows that minorities all have 27 kids, so that they can get more welfare. Obviously, they're the sole cause of the USA's economic collapse. BTW, I'd stay in Montgomery, if I were you.

Nigel, Berkeley, USA

"parlous"?

Gov't school graduate.

It's gonna get worse before it gets worse.

The Civil Rights boys forced Financial Institutions to lend money to all those who Knew that they Knew that they Knew that they Knew that they could/would not pay back the loan.
So there.

James, Montgomery, CSA

Blame Bush, the old stand by. Look and see that it was the liberals in congress who pushed and pushed for houses being financed for people that had no business buying them. Many Repubs get drug into this because they try to buy votes just like the DimLibs do. Another welfare mistake by the US govt

Todd, Lawton, USA

It's evident that the housing/tax structure re housing in the US has been the engine that propels their economy forward .

Once the scampers got hold of the system though deregulation the house of cards was vulnerable.

These are good times, just wait until next year..........................

Winslow, Toronto, Canada

There is now no case what so ever to consider that financial institutions are run by people who are blessed with a brain. I have been hearing arguments for over five years now regarding the stupidity of easy credit and unsupported debt. I thought we all knew about economic cycles, apparently not!

D Case, Newquay,

To be fair to Fannie Mae and Freddie Mac the main reason for their problems is that the Bush Adminstration as part of its crusade to broaden home ownership pushed them to make more and more risky loans to lower income groups. There is therefore a certain fairness in expecting a Government rescue.

Ian, Frederick, USA

I agree, all those traders who escaped with millions over the last few years are sitting pretty whilst the rest of the World suffers from the mess they created. Worse still these people are waiting in the wings to come back in after the crash to sweep up - again! The biggest swindle in history!

Greg, Edinburgh, UK

What a brilliant business to be in. Blessed if you do bring in mega profits and blessed if you don't (government will keep you afloat). How do some people get soooo lucky. Yes, people cos behind it all some fat cats are still getting richer or at least not losing their own money.

Glynn, Kingston,