.S. seizes Fannie and Freddie
Treasury chief Paulson unveils historic government takeover of twin mortgage buyers. Top executives are out.
EMAIL | PRINT | SHARE | RSS Yahoo! Buzz
Subscribe to Companies
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close) By David Ellis, CNNMoney.com staff writer
Last Updated: September 7, 2008: 8:28 PM EDT
Paulson: 'Our work is not done'
Breaking down the rescue plan
Do you think the government takeover of mortgage buyers Fannie Mae and Freddie Mac was a good move?
Yes. It just might save the housing market No. It’s too risky to taxpayersIt’s too soon to say or View results
Fannie, Freddie aftershocks: More bank woes
Union strikes Boeing
Union set to strike Boeing
100 resumes later, Josh gets a job
Jobless rate soars to 6.1%
Issue #1: America's Money - Everyday on CNN
How plan protects taxpayers
Men in suits - few answers
What rescue means for mortgage rates
Fannie, Freddie: The biggest losers
NEW YORK (CNNMoney.com) -- Federal officials on Sunday unveiled an extraordinary takeover of Fannie Mae and Freddie Mac, putting the government in charge of the twin mortgage giants and the $5 trillion in home loans they back.
The move, which extends as much as $200 billion in Treasury support to the two companies, marks Washington's most dramatic attempt yet to shore up the nation's housing market, which is suffering from record foreclosures and falling prices.
The sweeping plan, announced by Treasury Secretary Henry Paulson and James Lockhart, director of the Federal Housing Finance Agency, places the two companies into a "conservatorship" to be overseen by the Federal Housing Finance Agency. Under conservatorship, the government would temporarily...