The Federal Bailout of Fannie Mae and Freddie Mac
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Treasury Secretary Henry Paulson said the federal takeover of Fannie Mae And Freddie Mac was necessary because their failure would "affect the ability of Americans to get home loans and other consumer credit and business finance. And a failure would be harmful to economic growth and job creation." Was the Paulson plan necessary? Will it work? And at what cost? Also, Governor Sarah Palin could not be more popular in Alaska, but how will she play in the lower 48?
Treasury Secretary Paulson speaks at a news conference announcing a federal takeover of Fannie Mae and Freddie Mac as Federal Housing Finance Agency Director James B. Lockhart looks on September 7, 2008 in Washington, DC. Photo: Brendan Hoffman/Getty Images
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Federal Take-Over of Fannie Mae and Freddie Mac ()
Led by Treasury Secretary Henry Paulson, the Bush Administration seized control of the country's two largest mortgage finance companies yesterday. In his announcement of the takeover, Secretary Paulson said, "Fannie Mae and Freddie Mac are so large and so interwoven in our financial system that a failure of either of them would cause great turmoil...at home and around the globe." Will the Paulson plan work? How will it affect consumers? What will it mean to the housing market? How much will it cost taxpayers?
Guests:
- Greg Ip: Economics Reporter, Economist magaqzine, @greg_ip
- Barry Ritholtz: CEO, Fusion IQ, @ritholtz
- Caroline Baum: Columnist, Bloomberg News
- Ira Stoll: Managing Editor, New York Sun
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Palin Injects Excitement but Questions Still Remain ()
Governor Sarah Palin could not be more popular in Alaska, but how is she playing in the lower 48? Post-convention polls indicate a surge in Republican enthusiasm for the McCain-Palin ticket, but will Palin strengthen Republican appeals to the all important swing voters who will decide this election?
Guests:
- Steve Heimel: Senior Reporter, Alaska Public Radio Network
- James Muller: Professor of Political Science, University of Alaska at Anchorage
- Jessica Gavora: former Speechwriter, John McCain
- Michael Tomasky: Editor, Guardian America, @michaeltomasky
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