The government has come to the rescue!

U.S. Treasury Secretary Hank Paulson has announced an emergency response plan to prevent troubled government-chartered mortgage firms Fannie Mae (FNM) and Freddie Mac (FRE) from facing a major liquidity crunch.

But what does it all mean for investors? That depends on your point of view. The further decline of the dollar, more banking failures as the fed’s money supply tightens, more burden on American taxpayers. Take your pick…