10 September 2008

US Bails Out Fannie Mae & Freddie Mac

US Bails Out Fannie Mae & Freddie Mac

The US government has seized control of the mortgage finance companies Fannie Mae and Freddie Mac in what could become the largest corporate bailout ever. The Treasury Department has pledged to provide as much as $200 billion as the two quasi-public companies deal with heavy losses on mortgage defaults. We speak with economist and writer, Max Fraad Wolff.

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