10% of Americans late on mortgage or in foreclosure.
" News of the likely government takeover Friday followed a report by the Mortgage Bankers Association that more than 4 million American homeowners with a mortgage, a record 9 percent, were either behind on their payments or in foreclosure at the end of June. "
Watch. This is going to be a 25 billion dollar bailout, but the stock market will reel tomorrow.
They announced this on a weekend to help prevent a massive panic on Wall Street.
http://apnews.myway.com//article/200809 … R0600.html
" News of the likely government takeover Friday followed a report by the Mortgage Bankers Association that more than 4 million American homeowners with a mortgage, a record 9 percent, were either behind on their payments or in foreclosure at the end of June. "
Watch. This is going to be a 25 billion dollar bailout, but the stock market will reel tomorrow.
They announced this on a weekend to help prevent a massive panic on Wall Street.
If Bill Gates could write a check and bail these companies out why is it that it will be treated as a economy threatening event?WASHINGTON (AP) - The historic takeover of Fannie Mae (FNM) (FNM) and Freddie Mac (FRE) (FRE), which could come as soon as Sunday, moved to the forefront of the presidential campaign Saturday as candidates and congressional leaders seized on the enormous implications for taxpayers and the economy
http://apnews.myway.com//article/200809 … R0600.html