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Politics : Politics for Pros- moderated

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To: LindyBill who wrote (257481)	7/11/2008 11:31:38 AM
From: Neeka	of 793928

Borrowed: Pay up, taxpayer! This is not 1929... Reuters Government considers Fannie, Freddie takeover: report Friday July 11, 6:58 am ET By Kevin Plumberg HONG KONG (Reuters) - The U.S. government is considering taking over mortgage finance companies Fannie Mae and Freddie Mac if their funding problems worsen, in a plan that could leave shareholders nothing, the New York Times reported, citing people briefed on the matter. Fannie (NYSE:FNM - News) and Freddie (NYSE:FRE - News), government-sponsored entities that have an implicit backing of Washington, have been under fire this week as investors questioned the companies' ability to raise enough capital to stay afloat. Shares in the companies fell on Thursday to their lowest levels since 1991. The New York Times said the government was considering placing the companies into conservatorship, under which the shares would be worth little or nothing, and the losses on the home loans they own or guarantee -- what amounts to half of all U.S. mortgages -- would be paid by U.S. taxpayers. biz.yahoo.com

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