That's over. What else does it means. it means the Fed has there panties in a wad. They won't let LEH go either. This is a total reversal for Paulson. He had said he wouldn't bail out equity holders of FNM or FRE. Look for big enforcement and regulation moves quickly. Up to you what they mean. Probably pretty good snap back in some dog financials.
No matter what happens house prices are going to tank, and mortgage interest rates will rise. Middle class is going to shrink, disposable incomes will go down. Commodities going up due to the increase of debt taken up by the government.