US govt 'to take over mortgage giants'

US mortgage giants Fannie Mae and Freddie Mac are expected to be taken over by the government as early as this weekend, it emerged today.

US govt 'to take over mortgage giants'
Sat, 06 Sep, 2008 - 10:20

US mortgage giants Fannie Mae and Freddie Mac are expected to be taken over by the government as early as this weekend, it emerged today.

The bold move is designed to protect the mortgage market from the risk that the companies could fail, a person briefed on the matter said.

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