Freddie & Fannie are big time in the Home Mortgage industry,somewhere near 6 trillion dollars, what would be the result if they were allowed to fall? your country would go with it.This is designed to stabilise the housing industry and stop all those signs that have appeared, "Bank owned, For sale".Should have been done earlier. Its not a grab because they will be freed when times get better.It's more of Financial backing. I can't believe some of the posts on here, bring yourselves upto speed and read the reports on the Federal National Mortgage Assn. and Federal Home Mortgage Corp. They were both Govt. initiatives.. Fannie Mae is older than the majority of you. Best and possibly the only good decision GWB has made.
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Today's Featured Article - The River Tractor - by Charlie English Jr.. This is a 4010 John Deere that was used to farm on the Diamond Island which is in the Ohio River about 15 miles southwest of Evansville, Indiana. About ten years ago, this tractor was parked close to the bank as the river was washing the bank of the island away.
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