Gov't may soon back Fannie, Freddie

September 5, 2008, 11:18 pm, by Clay Edwards

Gov't may soon take over troubled mortgage finance giants Fannie Mae, Freddie Mac The government is expected to take over Fannie Mae and Freddie Mac as soon as this weekend in a monumental move designed to protect the mortgage market from the failure of the two companies, which together hold or guarantee half of the nation's mortgage debt, a person briefed on the matter said Friday night. Some of the details of the intervention, which could cost taxpayers billions, were not yet...