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Fannie/Freddie takeover seen easing loan crisis
Source: Boston Globe
Posted on 09.07.08 by Steve Trinward

“The Bush administration’s planned takeover of mortgage giants Fannie Mae and Freddie Mac should help lower mortgage rates, stem the slide of housing markets, and stabilize the US economy, analysts said. The takeover, expected to be announced as early as today, represents one of the biggest government interventions into the private markets ever. It aims to end the uncertainty over the ability of Fannie and Freddie, which hold or guarantee about half of US mortgages, to survive the worst housing crisis since the Great Depression, analysts said.” [editor’s note: Were it true that Fannie and Freddie were ever “private entities” this would be shocking; since they’ve always been mostly protectorates of the FedGov … not so much! - SAT] (09/07/08)


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