As the US economy and markets will not recover until the bulk of the housing correction was behind them, the US government has seized control of Fannie Mae and Freddie Mac. The Federal Housing Finance Agency will take over under a so-called conservatorship, replacing their chief executives and eliminating their dividends. The US Treasury can purchase up to US$100 billion of a special class of stock in each company as needed to maintain a positive net worth; it will also provide secured short-term funding to Fannie, Freddie and 12 federal home-loan banks, and purchase mortgage-backed debt in the open market.
Worst may not be over for Asia Investors hoping for a quick rebound of Asian bourses may be in for a disappointment, according to a well regarded fund manager...
MaxEdu Plus makes disciplined saving easy A participating endowment plan with survival benefits, it provides necessary reserves for your child's education years down the road...
