I certainly agree. The problem is, unless you set yourself up really smart, you, the tax payer, gets stuck with these "bailouts" whether you ant them or not.
All it does is add to the future tax and over-all debt of Americans (yes I am also an American). Why people do not see this simple point is beyond me. Why they are so busy looking for someone else to "bail them out" all the time is explained by simple self-centeredness and a welfare mentality that was made by the people in the society.
Well, if you let Fannie go, and the other GSEs as well like Sallie Mae and AIG, basically, the government no longer has market makers. The free market will demand much higher prices for loans, insurance, etc. That will reduce demand, slow the economy, shrink the tax base, etc.
But I agree, my house could fit inside Air Force 1, and that is the way I like it.