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henry paulson: Fannie & Freddie Bailout a Band-Aid at Best - 09/09/08 12:47 PM
The Fed to the rescue....??
This weekend Henry Paulson announced the government takeover of Fannie Mae and Freddie Mac. In Paulson's words "the housing downturn is at the heart of the economic downturn." Fannie and Freddie combined are projected to have $14 billion in loses. Fannie was able to raise capital, Freddie not so able.
The goal of this Fed plan is supposed to be:
The plan to inject up to $100 billion in each of the government-chartered mortgage companies could not only help lower mortgage rates but, some investors are hoping, buoy the overall economy. The plan could help … (3 comments)
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Bridget Ayers
Carlsbad,
CA
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GSW Consulting Group
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