From PRI, Public Radio International and KCRW Santa Monica, this is To the Point.

What does the federal takeover of Fannie Mae and Freddie Mac mean to the housing market and to taxpayers?

I'm Lawrence O'Donnell, sitting in for Warren Alley, and this is to the point from Public Radio International, a daily look at the issues Americans care about most.

Led by Treasury Secretary Henry Paulson, the Bush administration seized control of the country's two largest mortgage finance companies yesterday.

In his announcement of the takeover, Secretary Paulson said, Fannie Mae and Freddie Mac are so large and so interwoven in our financial system

that a failure of either of them would cause great turmoil at home and around the world.

Will the Paulson plan work?

How will it affect consumers and how much will it cost taxpayers?

Later on the program, Sarah Palin could not be more popular in Alaska,

but how will she play in the lower 48? First, here's the news.

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Information at gatesfoundation.org.

I'm Lawrence O'Donnell, sitting in for Warren Allney,

back with To the Point from PRI.

Treasury Secretary Henry Paulson said the federal takeover of Fannie Mae and Freddie Mac was necessary because their failure would, quote, affect the ability of Americans to get home loans and other consumer credit and business finance.

And a failure would be harmful to economic growth and job creation.

And quote, was the Paulson plan necessary? Will it work? And at what cost? Joining us now is

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