Bush: Takeover of housing giants 'critical' (AP)

Courtesy Ytop stories  Sun, 09/07/2008 - 3:32pm

In this May 2, 2007 file photo, the Fannie Mae building in Washington is seen.<br /><br />The Bush administration, acting to avert the potential for major financial turmoil, on Sunday, Sept. 7, 2008 announced that the federal government was taking control of mortgage giants Fannie Mae and Freddie Mac.<br /><br />(AP Photo/Manuel Balce Ceneta, File)AP - President Bush said Sunday that the historic federal government takeover of mortgage giants Fannie Mae and Freddie Mac is needed to keep them from failing, a risk he called "unacceptable" for an economy battered by housing and credit crises.




 

More related items

House OKs rescue for homeowners, Freddie, Fannie (AP)
AP - Rescue legislation sailed through the House on Wednesday aimed at helping 400,000 strapped homeowners avoid foreclosure and preventing the collapse of troubled mortgage companies Fannie...

House to vote on foreclosure rescue measure (AP)
AP - The government would help struggling homeowners get new, cheaper loans and be allowed to offer troubled mortgage giants Fannie Mae and Freddie Mac a cash infusion as part of legislation...

Lawmakers move to curb Fannie Mae, Freddie Mac pay (AP)
AP - Democrats and Republicans queasy about a federal rescue of mortgage giants Fannie Mae and Freddie Mac are coalescing around the idea of letting the government slap limits on the...

Government not expected to help more companies (AP)
AP - The U.S. government is signaling it won't throw a lifeline to struggling financial companies — except for mortgage linchpins Fannie Mae and Freddie Mac — marking a shift to a new and...

Washington, Wall St. weigh Fannie, Freddie help (AP)
AP - Wall Street and Washington wrestled Friday with how to shore up mortgage giants Fannie Mae and Freddie Mac, two troubled pillars of the economy whose failure would deal a devastating...


 

Post new comment

The content of this field is kept private and will not be shown publicly.