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I’m trying to figure out what to think about the Fannie/Freddie rescue deal. Brad DeLong summarizes the provisions. Unfortunately, it’s a bit hard for a lay observer to even figure out what’s happening here, much less whether or not it’s a good deal. Under the circumstances, one is inclined to suspect that obscure-but-consequential provisions of a complicated-and-important arrangement will be slanted toward the interests of the powerful and well-connected (i.e., those in a position to really monitor what’s happening) rather than you or I.

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