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When Fannie and Freddie hit the worldwide stage

�You�ve heard of mental depression. Well, this is a mental recession.� So said Phil Gramm, economic adviser to John McCain, in �desperation last week at the gloomy state of the markets.

You've heard of mental depression. Well, this is a mental recession." So said Phil Gramm, economic adviser to John McCain, in desperation last week at the gloomy state of the markets.