Finance and Investment

Lockhart's statement on Fannie, Freddie (CNN Money)

7 Sep 2008

The following is the statement by James Lockhart, director of the Office of Federal Housing Enterprise Oversight, who will head the Federal Housing Finance Agency being created to oversee mortgage backers Fannie Mae and Freddie Mac:

U.S. announces takeover of Fannie and Freddie (International Herald Tribune)

7 Sep 2008

The U.S. Treasury Department on Sunday seized control of Fannie Mae and Freddie Mac, the giant quasi-public mortgage finance companies, and announced a rescue plan that includes an open-ended guarantee to provide as much capital as they need to stave off insolvency.

INSTANT VIEW: U.S. takes over Fannie Mae and Freddie Mac (Reuters via Yahoo! UK & Ireland News)

7 Sep 2008

The U.S. government announced on Sunday that it was taking control of troubled mortgage finance giants Fannie Mae and Freddie Mac, in its latest effort to shore up the slumping housing market.