And remember, they have reached this stratospheric levels despite the Paulson rescue package, despite an alphabet soup of new
Fed facilities that accept GSE
paper as collateral (as the discount window did) now in place (although there were raspberries all around for the bailout bill, due to its failure to make any changes in the operation, management, or policies of the GSEs and its lack of specificity as to triggers and what
mechanism would be used).