In the weeks leading up to the federal government's takeover of Fannie Mae and Freddie Mac, dozens of top lawyers worked to figure out the best way to save the two mortgage giants. The in-house teams at the U.S. Department of Treasury and the Federal Housing Finance Agency, which is now the conservator for the two companies, were dealing with lawyers from at least nine private firms. Says one law firm partner, "This kind of conservatorship action has really no close analogous precedent."
Lawyers Worked for Weeks on Plan for Fannie, Freddie
September 9, 2008