Just two months ago, the politicans were telling us everything was fine...
Administration seeks to calm fears over Fannie Mae, Freddie Mac
By Walter Hamilton and Maura Reynolds, Los Angeles Times Staff Writers
July 12, 2008
Dodd and Sen. Charles E. Schumer (D-N.Y.), chairman of Congress' Joint Economic Committee, offered reassurances.
"Fannie and Freddie are too important to fail. Their fundamentals, as they look now, provide no reason to think they will fail," Schumer said on the Senate floor. "These two institutions are the foundation of the American mortgage market, and we stand fully behind them and their crucial role."
"The facts are that these are sound, solid institutions with more than necessary capital today that the law would require," Dodd said.
http://www.latimes.com/business/la-f...,1841786.story
Did we just get Enron'd?
Hybrid Mode
