| | | Treasury Department Announces GSE Conservatorship | | | Mon, 8 Sep 2008 07:13:59 EST
Unless you spent Sunday spelunking in Howe's Cavern, you probably know that at about 11 a.m. the other shoe finally dropped. After weeks of anticipation and speculation, Treasury Secretary Henry Paulson announced that the federal government had taken over Freddie Mac and Fannie Mae. No one is really sure what the takeover will cost - estimates range as high as $200 billion - but it is clear that taxpayers and some stockholders are going to take a bath. It is also questionable just how much the drastic federal move will impact the housing slump, foreclosures, interest rates, or lots of other things that were given as reasons for the action.
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| | | TODAY'S VIDEO NEWS
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| Bloomberg 9/8/2008 9:41:45 AM Losers - According to June 30th Filings, Fidelity Investments, Wellington Management, and Dodge & Cox |
| CNBC Videos 9/8/2008 8:50:00 AM Discussing the goverment's dramatic plan to seize control over Fannie Mae & Freddie Mac, with James Lockhart, Office of Federal Housing Enterprise Oversight director |
| CNBC Videos 9/8/2008 9:04:00 AM Discussing the government's move, with Charles Schumer, D-NY and with John Snow, former Treasury Secretary/Cerberus Capital Management chairman |
| CNBC Videos 9/8/2008 8:33:28 AM Discussing the government's decision to seize Fannie Mae and Freddie Mac, with Treasury Secretary Henry Paulson |
| CNBC Videos 9/8/2008 8:33:27 AM Feedback on the government takeover of Fannie Mae and Freddie Mac, with Warren Buffett, Berkshire Hathaway chairman/CEO |
| CNBC Videos 9/8/2008 8:48:10 AM Insight on whether the plan for Freddie & Fannie is the right course of action, with John Snow, former Treasury Secretary/Cerberus Capital Management chairman |
| Bloomberg 9/8/2008 8:33:35 AM Yen drops in 7-weeks, as U.S. takes over Fannie & Freddie; U.S. mortagge rescue triggers return of risk appetite, Merkets show; Analysis by Charles Diebel of Nomura International |
| Bloomberg 9/8/2008 8:33:35 AM Treasuries fall as U.S. government rescues Fannie and Freddie; Analysis by Charles Diebel of Nomura International |
| Bloomberg 9/8/2008 8:33:36 AM Analysis by Daniel Pfaendler of Dresdner Kleinwort |
| Bloomberg 9/8/2008 8:33:37 AM Yen drops most in 7-weeks, as U.S. takes over Fannie, Freddie; Analysis by Simon Derrick of New York Mellon Bank |
| Bloomberg 9/8/2008 8:33:37 AM Government purchase of GSE equity may mean higher treasury insurance; Analysis by Dariusz Kowalczyk, CFC Seymour Chief Investment Strategist |
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