Thread: The US Housing market is in deep shit
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Old 11-07-2008, 06:23 AM   #102 (permalink)
Milkman
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Quote:
Originally Posted by bkkandrew View Post
July 10 (Bloomberg) -- Fannie Mae and Freddie Mac, the two biggest providers of financing for U.S. home loans, tumbled to the lowest in 17 years in New York trading after a former Federal Reserve president said the companies may need a government bailout.
I think this reinforces the depth of the current situation. I'm not an expert, but why is the former Fed President stating this? And, even if it was a current member of the FMOC (Fed) why would the Fed be stating this instead of Congress?
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