The WSJ had this to say about Fannie Mae and Freddie Mac:
In Henry M. Paulson's first month as Treasury secretary, two deputies flagged Fannie Mae and Freddie Mac as significant risks to the economy. He didn't share their level of concern. When he was at Goldman Sachs, he told the aides, the mortgage giants weren't on the list of things that kept him up at night.
Two years later, they're at the top of his list. Mr. Paulson is embroiled in emergency planning on ways to shore up the companies to avert a destabilizing jolt to the U.S. economy and the world's financial system.
Moving obliquely from the big crash, it makes one think about whether to own property or whether to rent and take your chances.
Methinks it is going to be increasingly the case that more and more people will be keeping their assets, such as they are, as cash. Advice is to put it in commodities but the average Jo can't do these things.
I wonder how much my own current situation is the worst available option. Looks like it at the moment but mobility might become a key factor in a few years or even earlier.