Last week Freddie Mac and Fannie Mae lost almost half their stock value—a real blow to the two companies that hold almost half all US mortgages. Bankers, federal officials and members of Congress spent a busy weekend on a bailout that could mean billions in taxpayer money. Also, the President got what he wanted from the Democrats who run Congress including Barack Obama, who promised a filibuster but then voted "yes."
Bolstering Confidence in America's Finances
From this Episode:
Fannie Mae and Freddie Mac
Freddie Mac and Fannie Mae are owned by private shareholders. But because they originally were chartered by Congress and get favorable rates, investors believe that both...
Lame-Duck President Gets His FISA Bill
Last week the Democratic majorities in Congress passed--and the president signed --the FISA bill .