After a wild week, the Fed and Treasury Department came to the aid of embattered Fannie Mae and Freddie Mac (which despite media reaction, should not have been a shock). To calm the troubled masses, "Federal Reserve Chairman Ben Bernanke told Congress Wednesday that troubled mortgage giants Fannie Mae and Freddie Mac are in 'no danger of failing'." The following CNN article elaborates on Bernanke's announcement.
Wednesday, July 16, 2008
One Wild Ride - Fannie & Freddie
After a wild week, the Fed and Treasury Department came to the aid of embattered Fannie Mae and Freddie Mac (which despite media reaction, should not have been a shock). To calm the troubled masses, "Federal Reserve Chairman Ben Bernanke told Congress Wednesday that troubled mortgage giants Fannie Mae and Freddie Mac are in 'no danger of failing'." The following CNN article elaborates on Bernanke's announcement.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment