USEUROPEAFRICAASIA 中文双语Français
Home / Top News

US govt takes over Fannie, Freddie

China Daily | Updated: 2008-09-08 07:26

US govt takes over Fannie, Freddie

WASHINGTON: The US government has taken control of troubled mortgage finance giants Fannie Mae and Freddie Mac, effectively wiping out shareholders' interest in the publicly traded companies.

The regulator of the two companies, the Federal Housing Finance Agency (FHFA), will manage the two companies on a temporary basis.

The takeover is the second rescue bid engineered by the US Treasury Department in little more than six weeks, and comes as confidence in the firms' ability to keep operating amid a deepening housing crisis continued to erode.

US govt takes over Fannie, Freddie

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US