[ Reuters: Top News] U.S. seizes Fannie, Freddie, aims to calm market
Posted: Mon Sep 08, 2008 1:30 am
WASHINGTON (Reuters) - The government on Sunday seized control of mortgage finance companies Fannie Mae and Freddie Mac, launching what could be its biggest bailout ever to support the U.S. housing market and ward off more global financial market turbulence.
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