Quick hits on the Fannie Mae/Freddie Mac bailout

My latest Newsweek International column is online — it’s a quick take on the global implications of the Fannie Mae/Freddie Mac bailout.  Here’s the opening paragraph: 

The U.S. Treasury Department’s takeover of Fannie Mae and Freddie Mac is one of those mega events that simultaneously calls for instant analysis (and lots of it) and time out for a deep breath or two. The move is so vast in its implications and says so much about how the world has changed, it’s about as hard to take in as a view of the grand canyon. In the spirit of deep breathing, here are four thoughts to keep in mind about the buyout.

I think there’s something revealing that I thought I was doing instant analysis, while my editor thought it was deep breathing.  Read it for yourself and let me know which it is!