US govt to takeover mortgage giants

The US government formally announced today that it was taking control of mortgage giants Fannie Mae and Freddie Mac in an effort to avert the potential for major financial turmoil.

US govt to takeover mortgage giants
Sun, 07 Sep, 2008 - 17:41

The US government formally announced today that it was taking control of mortgage giants Fannie Mae and Freddie Mac in an effort to avert the potential for major financial turmoil.

Bush administration officials announced today that the executives of both institutions had been replaced.

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CourtsBusinessHeathrowPerson: BushPerson: Herb AllisonPerson: David MoffettPerson: Freddie MacPerson: Treasury SecretaryPerson: Henry PaulsonOrganisation: US govtOrganisation: US governmentOrganisation: Fannie MaeOrganisation: Freddie MacOrganisation: Merrill LynchOrganisation: US Bancorp
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