U.S. Rescue Seen at Hand for 2 Mortgage Giants

Submitted by Bill St. Clair on Sat, 06 Sep 2008 10:16:13 GMT  <== Politics ==> 

Stephen Labaton and Andrew Ross Sorkin at The New York Times - Freddie and Fannie Mac, and all coporations for that matter, have always been creatures of the government. But it's going to become official real soon now. The US government will directly own about half the houses in the country, with taxpayers bailing out those who paid for the mortgages, to the tune of untold billions of dollars before it's over. More stories at The Washington Post and The Wall Street Journal. [gsc]

Add comment Edit post Add post