Business Week: Government may soon back troubled mortgage giants The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation's mortgage debt, a person briefed on the matter said Friday night.
Wall Street Journal: U.S. Near Deal on Fannie, Freddie: The Treasury Department is putting the finishing touches to a plan designed to shore up Fannie Mae and Freddie Mac, according to people familiar with the matter, a move that would essentially result in a government takeover of the mortgage giants.
Washington Post: U.S. Nears Rescue Plan For Fannie And Freddie - The government has formulated a plan to put troubled mortgage giants Fannie Mae and Freddie Mac under federal control, dismiss their top executives and prop them up financially, federal officials told the two companies yesterday, according to three sources familiar with the conversations.
The New York Times: U.S. Weighs Takeover of Two Mortgage Giants - Alarmed by the growing financial stress at the nation’s two largest mortgage finance companies, senior Bush administration officials are considering a plan to have the government take over one or both of the companies and place them in a conservatorship if their problems worsen, people briefed about the plan said on Thursday.
Business Week: 9/7 - Candidates weigh in on stabilizing Fannie, Freddie The historic takeover of Fannie Mae and Freddie Mac, which could come as soon as Sunday, moved to the forefront of the presidential campaign Saturday as candidates and congressional leaders seized on the enormous implications for taxpayers and the economy.
Continue reading "Video: A government takeover of FannieMae & Freddie Mac could cost taxpayers up to $25 billion, according to the Congressional Budget Office" »
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