Just when we thought that the credit squeeze and mortgage crisis in the USA are easing up, the Treasury Department and Federal Reserve on Sunday spelled out a comprehensive government plan to rescue up Fannie Mae and Freddie Mac - the two mortgage finance giants that play a fundamental role in the U.S. economy.
Poulson will ask the Congress to provide a line of credit for both companies.
The decision by the government to intervene comes at a tumultuous time for the two companies, which own $5 trillion in home mortgages.
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Poulson will ask the Congress to provide a line of credit for both companies.
The decision by the government to intervene comes at a tumultuous time for the two companies, which own $5 trillion in home mortgages.
Discuss
Tell a friend
Bury
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