There Was No Fan/Fred 'Bailout': There Was a Stick-Up

“Have Fannie and Freddie Paid the Taxpayers Back Yet?” (RealClearMarket­s Sept. 20) has a fundamental flaw. Author Alex Pollock states that a “giant bailout” from the federal government “kept Fannie and Freddie in existence and business.” However, documents and emails obtained in connection with shareholder lawsuits make clear that it wasn't a ‘bailout' at all. It was a stick-up.