U.S. Treasury Bails Out Fannie and Freddie

Posted by Patrick O'Connor on 9/8/08 11:43 am

The U.S. Treasury on Sunday moved swiftly to backstop the burgeoning credit crisis by seizing mortgage giants Fannie and Freddie. Read full reports from several sources at the Navellier All Cap Blog.

Read Timeline from The New York Times

Fannie, Freddie and You: What It Means to the Public
By Ron Lieber, The New York Times

Official Statement from FHFA

Mortgage Rates Fall

Watch CNBC Video

Mortgage Bonds Backed by Fanny & Freddie Rally

Bloomberg
Mortgage bonds guaranteed by Fannie Mae and Freddie Mac rallied, potentially reducing home-loan rates, after the U.S. government seized control of the companies and vowed to shore up demand. Read More.

Dollar Rises to Nearly One-Year High

Bloomberg
The dollar rose to the highest level since October against the euro as the U.S. government's takeover of Fannie Mae and Freddie Mac boosted confidence in financial markets in the world's largest economy. Read More.

Fed Officials Considering Credit Card and Auto Loan Regulation

The Wall Street Journal
While the government takeover of Fannie Mae and Freddie Mac represents the most powerful federal intervention in financial markets in decades, there are likely to be further government moves ahead. Read More.

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