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The news that the federal government is stepping in to bail out Fannie Mae and Freddie Mac was welcome to Wall Street. While there is a question about the outcome for stockholders in the individual companies, overall the news was good for the economy. These two giants hold mortgages and securitize mortgage pools. The move will reassure buyers of credit instruments and will ease the tight credit on real estate. Long-term rates may even decline. Large-caps cheered! DJIA +271.54 NASDAQ +12.55 S&P 500 +23.12