Academic

The government bailout of Fannie and Freddie is big news, and while you're digesting what has happened and what you think about it, let me point you to the following takes:

• Did Paulson kill Frannie?  Sorkin and Salmon weigh in.
• The WSJ's fantastic - and very old-style-WSJ - tick tock
• .Remember the legal authority Paulson got to take over Frannie?  Well, he said he wouldn't use it.  Chris Dodd's reaction: "?We accepted him at his word that all he needed was the authority and that he wasn?t going to exercise it. Then he used his authority very aggressively."  What we may have here, my friends, is an interbranch disagreement.
• It's still true that bailout ground rules are sorely needed.
• Frannie fooled famous investors like Bill Miller (and economists like DeLong, I might add).  And Miller's "cool it, guys" strategy sounded kind of convincing to me.
• Radar provides a guide for the perplexed.