government intervention: Government Take Over of Fannie and Freddie this weekend
- 09/06/08 12:24 AM
According to high government sources reported by both the New York Times and the Washington Post late last night the government is planning to take control of both Fannie Mae and Freddie Mac. This move, which I thought might have happened last weekend, will protect the quasi-governmental agencies while they continue to operate. According to the NY Times, over 70% of the mortgages written are backed by either Fannie or Freddie. As part of the take over, there will be changes in the operational aspects of the company. The take over will also wipe out both the common and preferred stock … (0 comments)
An assortment of odds and ends that may or may not pertain to the greatest city in the Midwest: Naperville.
Also some commentary on the Naperville real estate market.
According to high government sources reported by both the New York Times and the Washington Post late last night the government is planning to take control of both Fannie Mae and Freddie Mac.;)
;)
