American politicians were hitting the Sunday morning talk shows assuring the public that Freddie and Fannie, the big government-backed mortgage finance companies, were in fine shape. So it didn’t surprise anyone, did it, when the Monday papers announced new measures to provide them stronger backing from the US Treasury. Are news crews staking out the houses of Treasury Secretary Hank Paulson and Fed Chairman Ben Bernanke on weekends? Forget Maine – after Bear Stearns execs were caught playing in bridge tournaments during the financial meltdown last August, look for captains of banking to stay within close reach of a helicopter while maintaining a low profile and keeping relatively quiet about their golf handicaps.
Then again, looking at Sarkozy’s Med diplomacy it looks as if even the French aren’t doing traditional French holidays this year.

Filed under: Technology