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Fed, Treasury to Help Fannie Mae and Freddie Mac

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PlusFed, Treasury to Help Fannie Mae and Freddie MacFed, Treasury to Help Fannie Mae and Freddie MacThe Associated PressThe Federal Reserve and the Treasury announced steps Sunday to shore up mortgage giants Fannie Mae and Freddie Mac, whose shares have plunged as losses from their mortgage holdings threatened their financial survival. (July 13)[Notes:ANCHOR VOICE] The Federal Reserve and Treasury are extending a couple of life lines to Fannie Mae and Freddie Mac.Shares of the mortgage companies have plunged recently and their losses have threatened their financial survival.Treasury Secretary Henry Paulson says he plans to ask Congress to increase Fannie and Freddie's credit limits and, if necessary, make equity investments in the companies.((PAULSON SOT))Secretary Paulson says he's also looking to consult the Fed about any new rules Congress proposes for the lenders.The Fed's role would be to weigh in on setting capital requirements for the companies. In a separate plan...the Fed says it's given the Federal Reserve Bank of New York the green light to lend to the 2 mortgage companies if they need it. The mortgage financiers would pay 2 point 25 percent for any borrowed funds. That's the same interest rate given to commercial banks and Wall Street firms.Ben Bernanke and company say that move should help Fannie Mae and Freddie Mac quote- promote the availability of home mortgage credit during a period of stress in financial markets.The Treasury and Fed plans are also meant to let nervous investors around the world know the U-S government is willing to do everything it can to prevent further problems in the credit markets.

Channel: News & Politics
Uploaded: December 31, 1969 at 6:59 pm
Author: AssociatedPress

Length: 01:31
Rating: 5.00
Views: 2638

Tags: fannie  fanniefreddie  fed  freddie  mac  mae  treasury  

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DoomsdayEarth (December 31, 1969 at 6:59 pm)
hey dude this video was great i rated 5/5 stars this was awsome could you subscribe to me dude honestly this video rocked!!anyone subscribe :D I make videos everyday
Ajntb2Sli (December 31, 1969 at 6:59 pm)
Yes, its true. Paulson is no republican. He is a fiscal liberal demoncrap. I don't hate Bush, I really think he means well. I just think he does NOT know what he is doing, now that the majority of his smart cabinet members have left.
Ajntb2Sli (December 31, 1969 at 6:59 pm)
Uh, excuse me mr. SUCKs, I don't in any way support Osama! I have a job thank you very much. Just because I don't agree totally with Bush does not make me an Osama supporter. You need to get your facts straight before you go spewing ignorant comments!
TodaysRapSucks (December 31, 1969 at 6:59 pm)
The biggest recipients of Fannie Mae cash are DEMOCRATS...Chris Dodd tops the list, BARACK OBAMA is second, and John Kerry third.Give loans to people who can't pay bills (democrats waiting for handouts) and look what happens. Fckn shame. What a shame you are to this country. It's not hard to make a living here. Swallow your pride, get a job, any job and quit waiting for the mighty Obama to help you.
democrassy007 (December 31, 1969 at 6:59 pm)
we are going to be a big communist country.i feel it.
democrassy007 (December 31, 1969 at 6:59 pm)
the fed should pay off all our mortgages and let us live like a human bean,what is this.all i do just work.thats it
TELEVISIONARCHIVES (December 31, 1969 at 6:59 pm)
Dodd, Christopher J S CT D $165,400 $48,500 $116,900Obama, Barack S IL D $126,349 $6,000 $120,349Kerry, John S MA D $111,000 $2,000 $109,000Bennett, Robert F S UT R $107,999 $71,499 $36,500Bachus, Spencer H AL R $103,300 $70,500 $32,800Blunt, Roy H MO R $96,950 $78,500 $18,450Kanjorski, Paul E H PA D $96,000 $57,500 $38,500
steigerpower (December 31, 1969 at 6:59 pm)
What a motley look face we have here.
boosuff (December 31, 1969 at 6:59 pm)
I gave up my mortgage... fuck them aSSHOLESthis country is done fordo what you can do to survive. the government will not help you
Ajntb2Sli (December 31, 1969 at 6:59 pm)
Ahuh! This all makes sense now. Back in 2002 when Bush pushed for minority mortgages. He said there wasn't enough Blacks or Hispanics who owned their own houses, so he pressured the banks to take in anybody they wanted. They lowered the standard down payment percentage and those who qualified. So now America belongs to China? Never thought I would see this in my lifetime. The end of America. Next come the Airlines and the Car makers!


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