You're right. I 'misremembered'. Reagan actually said a $million would be a stack of $1000 bills 4 and 1/4 inches high, a $billion would be 350 feet high (4,245 inches) and a $trillion would be 67 miles high (4,245,000 inches or 353,000 feet).
Most government employees get 3% of their pay for retirement. Not in the year earned, but 3% of their wages at retirement. If you work for the government for 30 years you get 99.3% of your wages when you retire! I had a neighbor who worked for the government for 35 years. He said he had to retire because it was costing him too much to continue working!
Freddie and Fannie are political animals guided by the Democrats' basic belief that everyone in the USA is entitled to a house regardless of ability to pay. Hey, the 50% of Americans that pay Federal taxes can always pay off the debts from the 50% of Americans that no longer have to pay taxes,right? That's what the tag team of Chris Dodd and Barnie Frank keep saying. If Pelozi/Reid hang in after the election then the "Mother of All Bailouts" will take place. If the Republicans score big Fannie and Freddie will be broken up..Either way, AGNC will IMO do fine.
If Fannie and Freddie are broken up and privatized without a government guarantee, then what's left of the housing market would collapse. Interest rates would soar and home loans would be next to impossible to get. The homebuilders, who contribute to Republicans, would go bankrupt. The country would slide into full-blown Depression. Even if Republicans won everything in the next election I doubt that even they would be so foolish as to do that.