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Federal Reserve | Fannie Mae | Henry Paulson | Freddie Mac

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Play from 0:09[0:09] ..." To prevent a major markets like today a major announcement from secretary Henry Paulson on the steps of the US treasury."...

Play from 0:18[0:18] ..." Paulson announced a government plan designed to short mortgage giant Fannie Mae and Freddie Mac. The companies dominate the nation's housing market but with mortgage defaults on the rise both have suffered significant losses. And last week their stocks plunged nearly 50%. In an unprecedented move the Federal Reserve announced that for the first time it would make loans available to them if they prove necessary. And Paulson called on congress"...

Help On The Way For Housing Crisis

Mon, 14 Jul 2008

The federal government is throwing a lifeline to the nation's two biggest lenders, who have seen stocks plummet recently. Meanwhile, it's also planning a crackdown on the culprit of the crisis: shady lending practices.

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