Treasury, Fed to help Fannie, Freddie



Secretary of the U.S. Treasury Henry Paulson announces that the Treasury Department and Federal Reserve will lend money and buy stocks if necessary to aid embattled mortgage lenders Fannie Mae and Freddie Mac during a statement to the media at the Treasury Building in Washington, July 13, 2008. Paulson said he was acting after consulting with the Fed, the companies' regulator, the Securities and Exchange Commission, and congressional leaders of both political parties. REUTERS/Joshua Roberts (UNITED STATES)Scrambling to bolster eroding investor confidence, the Federal Reserve and the Treasury Department announced steps to brace slumping mortgage giants Fannie Mae and Freddie Mac.


Source:Treasury, Fed to help Fannie, Freddie

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