The U.S. Treasury’s takeover of Fannie Mae and Freddie Mac is aimed at keeping the companies going into 2009, while leaving the next president and Congress to decide their long-term structure.
Treasury Secretary Henry Paulson and Federal Housing Finance Agency Director James Lockhart on Sunday placed the two firms in a government-operated conservatorship, ousting their chief executives and eliminating their dividends. The Treasury may purchase up to $200 billion of stock in the firms to keep them solvent.
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