Crappy Mac?

Get your news from a source that’s not owned and controlled by oligarchs. Sign up for the free Mother Jones Daily.


The Washington Post reports today that the Obama administration is considering reorganizing Fannie Mae and Freddie Mac, the giant government-backed mortgage lenders. The plan calls for a “good bank-bad bank” structure, where toxic assets and bad liabilities would be stripped from Fannie and Freddie and put in a government-backed “bad bank,” leaving “two healthy financial companies with a clean slate.” 

Back in January, Citibank split in what some characterized as a good bank-bad bank move. The “bad bank,” Citi Holdings, promptly acquired a (very obvious) nickname. What should the very bad bank that will hold all of Fannie and Freddie’s bad assets be called? I suggest “Crappy Mac.” You?

BEFORE YOU CLICK AWAY!

Mother Jones was founded to do journalism differently. We stand for justice and democracy. We reject false equivalence. We go after stories others don’t. We’re a nonprofit newsroom, because the kind of truth-telling investigations we do doesn’t happen under corporate ownership.

And the essential ingredient that makes all this possible? Readers like you.

It’s reader support that enables Mother Jones to devote the time and resources to report the facts that are too difficult, expensive, or inconvenient for other news outlets to uncover. Please help with a donation today if you can—even a few bucks will make a real difference. A monthly gift would be incredible.

payment methods

BEFORE YOU CLICK AWAY!

Mother Jones was founded to do journalism differently. We stand for justice and democracy. We reject false equivalence. We go after stories others don’t. We’re a nonprofit newsroom, because the kind of truth-telling investigations we do doesn’t happen under corporate ownership.

And the essential ingredient that makes all this possible? Readers like you.

It’s reader support that enables Mother Jones to devote the time and resources to report the facts that are too difficult, expensive, or inconvenient for other news outlets to uncover. Please help with a donation today if you can—even a few bucks will make a real difference. A monthly gift would be incredible.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate