Fannie Mae and Freddie Mac

If the goverment tkaes over Fannie Mae and Freddie Mac they are bound to fail. And they don't care the tax payer will foot the bill . - Jack
WASHINGTON — Connecticut Sen. Christopher Dodd says there are many unanswered questions about the temporary federal takeover of mortgage giants Fannie Mae and Freddie Mac.
Dodd, chairman of the Senate Committee on Banking, Housing, and Urban Affairs, says Americans deserve to know if this proposal will help keep mortgages affordable, stabilize the markets and protect taxpayer interests.
Dodd says in the coming days, he will invite the architects of this plan to come before the banking committee to provide members of Congress and the public with more information.
The Treasury Department says it's prepared to put up as much as $100 billion over time in each of the companies if need be to keep them from going broke. In exchange, the government gets ownership stakes and $2 billion of preferred stock, paying 10-percent interest.
Together, Freddie Mac and Fannie Mae own or guarantee about half the nation's home loans.