Federal Government Seizes Control of Fannie Mae and Freddie Mac
On late Friday, the news media became abuzz with reports, the shoe had finally began to drop with regard to Fannie Mae and Freddie Mac. Articles revealing the government had conjured a plan to put the two troubled mortgage Goliaths under federal control, dismiss their top executives, while shoring the institutions up financially.
The plan would prompt one of the more sweeping government interventions of financial markets in U.S. history, placing the firms under conservatorship, and empowering the government to restructure and breath new life into the companies.
Stock would b...
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