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News -07-14-08 Government Backs Struggling Mortgage Giants (PBS.org) "Treasury Secretary Henry Paulson is asking Congress to increase the companies' existing line of credit at the Treasury, and for the authority to buy unlimited stakes in the companies." "Shares for Fannie Mae and Freddie Mac, which buy or finance almost half of the $12 trillion of U.S. mortgages, plummeted last week over concerns that they might not have enough capital to handle losses from bad home loans." "The two companies have been struggling for months, with the value of shares of the companies dropping some 75 percent in the last year. Both companies are publicly traded, but are chartered and government-sponsored enterprises." 07-08

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