Monday, September 13, 2010

Bankers Urge Government to Pull Plug on Fannie, Freddie

This article notes the $150 billion bailout of Fannie and Freddie, but it doesn't the bad debt purchase of $238 billion, which an estimated of $400 billion to $1 trillion in the future.
The government controls 79.9 percent of Fannie Mae and Freddie Mac, just shy of the 80 percent threshold for placing them on the federal books. Conservatorship is intended for firms that could be restored to health, while receivership is the end-of-the-line liquidation phase.

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