Freddie Mac and Fannie Mae Bailed out?

Over the summer I have read a lot about the banking industry. I was surprised to read not in the article another one that the government of Russia is buying up a lot of the failed mortages. Scary thought. I just wonder how much this will impact the economy in the next several months. I know that some areas of this country are doing well and the people in those areas fail to realize that it isn't great all over. The rust belt states are suffering considerably and maybe when it spreads to the rest of the nation, we won't be considered a "nation of whiners". Sorry if you are on the Republican side but, you did ask what we think.