Taxpayers to insure Fannie Mae and Freddie Mac?
How do you like that one, ah? Under a 1992 law, Fannie or Freddie could be put into conservatorship if their top regulator found that either one is "critically undercapitalized." A conservator would have sweeping powers to overhaul them, but would not have the authority to close them.
And do you know what conservatorship means? Under a conservatorship, the shares of Fannie and Freddie would be worth little or nothing, and any losses on mortgages they own or guarantee - which could be staggering - would be paid by taxpayers. Read all here.
Fri Jul 11, 2008 02:07PM | Copyright: www.bad-credit-advisor.com | More in Economy | Comments (0)
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