The federal government has doubled the size of its commitment to Fannie Mae and Freddie Mac, increasing the guarantee against losses on their mortgage investments to $400 billion. The massive expansion of this public backstop for the troubled mortgage giants was disclosed this morning among the details of the Obama administration's plan to reduce foreclosures.
[This is government: they both failed - so we pump more money into them]
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Friday, February 20, 2009
Government Doubles Available Aid to Fannie and Freddie
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