United States Government May Buy Out Troubled Banks, Fannie Mae and Freddie Mac expecting takeover |
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United States Government May Buy Out Troubled Banks, Fannie Mae and Freddie Mac expecting takeover |
 Sep 6 2008, 02:58 PM
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Group: Private Forum Pilot Posts: 233 Joined: 20-January 08 Member No.: 2,660  |
http://news.yahoo.com/s/ap/20080906/ap_on_...e_giants_crisis
According to this posting, it looks like these banks are in trouble, and about to be "bailed out" by old Uncle Sam. QUOTE By ALAN ZIBEL, AP Business Writer WASHINGTON - The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation's mortgage debt, a person briefed on the matter said Friday night. Some of the details of the intervention, which could cost taxpayers billions, were not yet available, but are expected to include the departure of Fannie Mae CEO Daniel Mudd and Freddie Mac CEO Richard Syron, according to the source, who asked not to be named because the plan was yet to be announced. Take it for what you will I suppose.... This post has been edited by beatles64: Sep 6 2008, 02:59 PM |
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Sep 6 2008, 03:04 PM
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 Group: Administrator Posts: 7,986 Joined: 13-September 06 Member No.: 49 |
QUOTE (beatles64 @ Sep 10 2008, 12:58 PM)  ...Take it for what you will.... It will be by far the biggest bail-out in history. We live in very fluid times. |
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Lo-Fi Version | Time is now: 23rd May 2013 - 02:23 PM |
