Could it have been worse than this? Um, yes.
The Economist's Nightmare: No Bailout
Click to play.
Adam Davidson sends this audio from a conference of former finance ministers at the University of Virginia. He asked them about the consequences of not bailing out Fannie Mae and Freddie Mac.
Let's just say you don't want to look. But you do need to listen (click above or download here).
Bonus: The All Things Considered segment