Debate over future of Fannie Mae, Freddie Mac heats up
Posted by Metropolitan Group on Wednesday, March 24th, 2010 at 12:05pm.WASHINGTON—The Obama administration is
taking baby steps to develop a system that could replace mortgage
giants Fannie Mae and Freddie Mac, amid criticism that officials are
dragging their feet. In September 2008, the government seized
control of Fannie and Freddie—massive companies that purchase home
loans, package them into investments and guarantee them against
default. Since then, the government has pumped a combined $126 billion
into the companies to keep them afloat.
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