Fannie Mae was created by Congress during the Great Depression to help with home ownership, and Freddie Mac, created in 1970 as a competitor to Fannie Mae, as of September 7, 2008 both companies are now in control of the Federal Government. These two companies represent 5 trillion in mortgages and account for a majority of all the mortgages currently in the United States. Fannie & Freddie are large companies and they are so interwoven into our financial system that if either of them were to fail it would cause great financial turmoil not only in our financial markets but also around the globe. Prophecy teachers and students alike take note this is a very significant last days event. We know that the entire world is headed to be controled by Antichrist and this is a giant leap for the purposes of darkness to control the people.
Revelation 13:16-18 (NASB)
16 And he causes all, the small and the great, and the rich and the poor, and the free men and the slaves, to be given a mark on their right hand or on their forehead,
17 and he provides that no one will be able to buy or to sell, except the one who has the mark, either the name of the beast or the number of his name.
18 Here is wisdom. Let him who has understanding calculate the number of the beast, for the number is that of a man; and his number is six hundred and sixty-six.