The Treasury Department announced thursday that it would provide unlimited capital to Fannie Mae and Freddie Mac until 2012. The two companies, essentially nationalezed by the government last year, will be run by the government “for the rest of President Obama’s current term,” the Washington Post reports.
The Obama administration has defended its actions arguing that it is only supporting the two mortgage giants to ease investor’s fears that the companies will misuse their money.
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Bevan Sabo
Ariel Goldring
Guest Blogger
