Fannie and Freddie Seized

If you’ve been paying attention to the Subprime situation at all, you no doubt anticipated this move, despite the government’s assurances that it such would not be necessary: the Treasury today assumed responsibility for Freddie and Fannies mortgages, firing their CEOs.

Oh, dear.

By Tommy Belknap

Owner, developer, editor of DragonFlyEye.Net, Tom Belknap is also a freelance journalist for The 585 lifestyle magazine. He lives in the Rochester area with his wife and son.