U.S. plans mortgage bailout

September 07 06:05:02 AM, Chicago Tribune

Feds set to seize control of giants Fannie, Freddie WASHINGTON - Senior officials from the Bush administration and the Federal Reserve on Friday informed top executives of Fannie Mae and Freddie Mac, the mortgage finance giants, that the government was preparing to seize the two companies and place them in a conservatorship, officials and company executives briefed on the discussions said.

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