U.S. to take control of Fannie and Freddie

U.S. to take control of Fannie and Freddie

www.washingtonpost.com

The U.S. government plans to put government sponsored mortgage finance companies Fannie Mae (FNM.N) and Freddie Mac (FRE.N) under federal control, the New York Times and Washington Post newspapers reported late Friday, in what could be the largest financial bailout in the nation's history. The two government sponsored enterprises (GSEs) own or guarantee almost half of the country's $12 trillion in outstanding home mortgage debt.

(visit the link for the full news article)

This will keep the Fannie and Freddie from failing and cost the taxpayer billions of dollars!!

Privatize the profits and socialize the losses! Is that a course in american business schools??

www.washingtonpost.com
(visit the link for the full news article)

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