"Call it a bailout, or a rescue, Fannie Mae and Freddie Mac are now firmly under the grip of the U.S. government.
The widely anticipated move was the logical next step as the housing crisis continued to erode the two mortgage giants.
'We have determined that it is necessary to take action,' Treasury Secretary Henry Paulson said Sunday. 'Our markets will not recover until the end of this housing crisis. Fannie Mae and Freddie Mac are critical to turning the corner on housing.'"
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How Fannie and Freddie came under full government control
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