Fannie Plan a 'Disaster' to Rogers
Submitted by John on Mon, 2008-07-14 08:23.
July 14 (Bloomberg) -- The U.S. Treasury Department's plan to shore up Fannie Mae and Freddie Mac is an ``unmitigated disaster'' and the largest U.S. mortgage lenders are ``basically insolvent,'' according to investor Jim Rogers.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a7hS5BuYqeR8&refer=home
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Especially the following line
Secretary Henry Paulson said the Treasury is seeking expedited authority from Congress to expand its current line of credit to the two companies and buy shares of the companies -- if needed.
http://biz.yahoo.com/ap/080714/mortgage_giants_crisis.html