Freddie Mac, Fannie Mae Bailout
September 8, 2008
The US government unveiled a takeover plan for ailing home mortgage companies giants Fannie Mae and Freddie Mac. The move would put the US government in charge of running the two companies and over seeing more the more than $5 trillion worth of loans held by the brokers. The move will also extend more than $200 billion in Treasury support to the firms in what is shaping up to be the largest bailout in US history.
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