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Economy: Federal Takeover / Freddie Mac and Fannie Mae #903959

NBC Evening News for Sunday, Sep 07, 2008
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(Studio: Lester Holt) Report introduced.

(Washington: Diana Olick) The federal takeover of mortgage lenders Freddie Mac and Fannie Mae examined; details given about the ouster of the CEOs with the government entering the mortgage business, about how Fannie/Freddie work and how much money was lost and what may happen to home prices. [Treasury Secretary Henry PAULSON†- says it is necessary to take action to stabilize the market.] [CNBC Steve LIESMAN†, University of Southern California professor Raphael BOSTIC†, Moody's economy.com Mark ZANDI†- assess the economic situation.]

(Studio: Lester Holt; Washington: Steve Liesman) The extent of the government conservatorship of the mortgage market and the potential cost to the US taxpayer discussed.

Reporter(s):
Holt, Lester;
Olick, Diana;
Liesman, Steve
Duration:
00:03:40

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