Industry, News

Govenrment bailout for Fannie and Freddie


Today, officials of the Federal government announced that both Fannie Mae and Freddie Mac, pivotal players in the secondary mortgage market, are being placed under the direct control of the government.

The plan, announced by Tresury Secretary Henry Paulson, places the two GSEs into “conservatorship” – with oversight by the Federal Housing Finance Agency.

Between the two, Fannie and Freddie back $5 trillion in home loans, but both companies have come under increasing financial pressure as the real estate industry has imploded over the past year.


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Bailing, originally uploaded by amirjina.

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