U.S. seizes two mortgage giants

News Type: Event — Seeded on Sun Sep 7, 2008 2:00 PM EDT

Article Source: CNN

Federal officials today announced an extraordinary takeover of troubled mortgage giants Fannie Mae and Freddie Mac, signaling the most dramatic move to date aimed at shoring up the nation's housing market. Freddie and Fannie own half the mortgage debt in the country. Since last summer, they have suffered about $12 billion in losses (CNN)

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{"commentId":2807279,"authorDomain":"sunnybruns"}

Rob-314344

Just when we thought we were hitting the bottom, the ground seems to have opened up some more. Imagine the Stock Market tomorrow. What do you think is going to happen? Other than FDIC, should the government, considering all the money already spent (which was most likely borrowed) on other financial institutions, step in?

Plus, what solutions do you think the candidates should offer up in solving this new economic downturn?

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#1 - Sun Sep 7, 2008 2:05 PM EDT

{"commentId":2808742,"authorDomain":"cyan412000"}

cyan412000

think its time to get rid of the federal reserve and print our own money supply...why in the world would we have a central bank to charge us interest and keep us in debt.

we need to imprison the people behind the bank failures i mean for life. thats absurd to ruin so many lives, make big money doing it and no punishment

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#2 - Sun Sep 7, 2008 4:42 PM EDT

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Fannie, Freddie blind to the bubble	Associated Press	Sat Sep 6	0
Answer Desk: Who cares about Fannie, Freddie?	Associated Press	Tue Sep 2	17
US government takes on big role in mortgage market	Associated Press	Fri Sep 5	8
Mortgage rates drop after Fannie, Freddie takeover	Associated Press	Sun Sep 7	6
Fannie Mae and Freddie Mac -- Realistically Speaking	Roy Batty	Mon Sep 8	11

ROB-314344

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U.S. seizes two mortgage giants

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