The U.S. Treasury expects to purchase $5 billion of Fannie Mae and Freddie Mac mortgage-backed securities within the next month as part of its takeover of the mortgage finance giants.
Senior government officials told reporters in a news briefing the program would be the first taxpayer cash outlays associated with the plan to put Fannie Mae and Freddie Mac into a government conservatorship.
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Tuesday, 9 September 2008
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