I just read that pimco,Vanguard & Franklin hold alot of Lehman bonds.I own Pimco total return & will take a hit there.Also own Vanguard funds but not sure if there are lehman bonds in the ones I own.Fannie & freedie bond holders had to be bailed out because they were mostly owned by Chinese & Russian governments.The beggar nation has to keep them happy. The small investor gets screwed as usual.