The fed is working on, what amounts to the biggest bail out for banks in over a decade. With AIG, Lehman Brothers, Merrill Lynch, Morgan Stanley, Washington Mutual all falling prey to their own practices and a panic stricken economy, the fed and treasury have come together with separate measures to help struggling banks.
The Treasury [...]
All Posts Tagged With: "Henry M. Paulson"
Biggest bank bail out in decades
Government takes control over Freddie Mac and Fannie Mae
Treasury secretary Henry M. Paulson, Jr. issued a statement today along with Jim Lockhart, Director of the new independent regulator, the Federal Housing Finance Agency (FHFA) on providing Treasury and FHFA protection to the two government sponsored enterprise’s (GSE): Freddie Mac and Fannie Mae.
The announcement today is a contract between the Department of [...]
