China stops buying GSe debt

http://www.monkeybusinessblog.com/mbb_weblog/2009/02/asia-to-freddie-and-fannie-thats-nice-kids-now-please-put-your-uncle-sam-on-the-phone.html

One small problem is the government takes them on the books, you bust the debt celing with it to about 15 or 16 Trillion overnight. Hmm, might cause the rating agency some heartburn. Once again you can only issue some much at one time before you are cut off.