 |
|
|
|
 |
 |
Federal Takeover of Two Financial Institutions
posted 10:50 pm Sun September 07, 2008 - Washington, D.C.
Stay on top of breaking news! Sign up for ABC News 4 e-mail alerts.
In Washington today the Bush Administration announced a federal takeover of two financial institutions, Fannie Mae and Freddie Mac. The takeover could cost taxpayers tens of billions of dollars. Treasury Secretary Henry Paulson stresses that the cost could have been far greater if either institution had been allowed to fail. Executives and Board of Directors of Fannie Mae and Freddie Mac have been replaced. Paulson says it will be up to Congress and the next president to decide what the two companies will ultimately look like.
Want 50% Off Your Next Meal? Click Here!
Not a member yet? Click Here to sign up.
Please leave your comments below:
Messages that harass, abuse or threaten other members; have obscene or otherwise objectionable content; have spam, commercial or
advertising content or inappropriate links may be removed and may result in the loss of your posting privileges.
Please do not post any private information unless you want it to be available publicly.
Never assume that you are completely anonymous and cannot be identified by your posts.
© 2008 WCIV-TV, LLC.
© 2008 The Associated Press
All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
The 'RUNNING MAN' icon is a registered trademark of America Online, Inc.
ABC News 4 to leave comments on news stories.