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Bernard M -- Taipei English Tutor

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Tuesday, September 9, 2008

U.S. Takeover of Fannie, Freddie Offers `Stopgap' By Rebecca Christie and John Brinsley FROM Bloomberg

Treasury Secretary Henry Paulson and Federal Housing Finance Agency Director James Lockhart yesterday 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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