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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 371.65-1.1%4:00 PM EST
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To: Haim R. Branisteanu who wrote (41124)10/11/2008 7:44:26 AM
From: TobagoJack  Read Replies (2) of 217835
 
a buyer showed up :0)

http://www.bloomberg.com/apps/news?pid=20601087&sid=aDjJYMSphyM0&refer=home

Fannie, Freddie to Buy $40 Billion a Month of Troubled Assets

By Dawn Kopecki

Oct. 11 (Bloomberg) -- Federal regulators directed Fannie Mae and Freddie Mac to start purchasing $40 billion a month of underperforming mortgage bonds as the Bush administration expands its options to buy troubled financial assets and resuscitate the U.S. economy, according to three people briefed about the plan.

Fannie and Freddie began notifying bond traders last week that each company needs to buy $20 billion a month in mostly subprime, Alt-A and non-performing prime mortgage securities, according to the people, who asked not to be identified because the plans are confidential. The purchases would be separate from the U.S. Treasury's $700 billion Troubled Asset Relief Program.

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