Logic Bomb Destroys Fannie, Freddie
Washington, D.C.
Mortgage Giants "Brought to their Knees"

Although Fannie and Freddie recently escaped a crippling attack on their data center, another so-called "logic bomb" has wrought ruin at all levels of the institutions.  In an interview with Jim Johnson, former chairman of Fannie Mae, he divulged the troubling news.

"Anybody could have seen it coming," he said, "and nobody did anything.  It just blew up on us with a big red ERROR message, and that was it."

He was referring, of course, to the logical fallacy that his organization depended on: you can spend more than you have.  Mr. Johnson: "It was like this tidal wave.  We'd done it that way for so long, the congress loved it, homeownership was expanding.  We thought it wouldn't ever execute that line."

"That line", of course, was the command buried deep within any financial script, no matter what language it is written in, that executes a protocol known as "pay_piper.exe".  When this program is called for, it attempts to settle, or at least balance, all outstanding accounts.  It is also connected with the collapse of WaMu and Bear Stears.

Millions of American homeowners are expected to suffer as a result of this error, and millions more taxpayers may be required to repair the damage.

A tech writer for "Wired", speaking anonymously, confided to us that "bad structuring can totally f*** your system, but when you basically ask it to tell you that a huge negative number equals zero, you crash everything.  Everything."