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Administration seeks to calm fears over Fannie Mae, Freddie Mac
Summary from multiple countries, from articles in English
As the Bush administration scrambles to address the sudden decline of the country's two largest mortgage finance companies, some of their longtime critics say the crisis has been building for years. (article 6) The companies lost half their market value early Friday after reports said the government was considering a takeover of the firms and was prepared for shareholders to be wiped out. (article 8) WASHINGTON - A day that began with a stomach-churning drop in stock prices for the two largest mortgage finance companies ended with a measure of relief, after government officials and lawmakers managed to calm investors worried about the health of the two companies. (article 3) Fannie Mae and Freddie Mac shares fell again Friday - and the broader stock market followed suit - as concern mounted that the government will be forced to take over the beleaguered mortgage finance companies, which some investors fear are at risk of default. (article 4) Under that dark cloud, politicians of both parties rallied behind the two companies Friday, expressing confidence and calling their role in the housing market essential. (article 1) Concern about rising defaults and foreclosures has cut the stock price of the two companies, but the fall turned into a rout early Friday, even though the Times said no government action is imminent. (article 10)

Other summaries about this story:
  • Summary from United States, from articles in English (29 articles) [compare]
  • Summary from the United Kingdom, from articles in English (3 articles) [compare]
  • Summary from Canada, from articles in English (1 articles) [compare]

    • Other stories about Fannie, Freddie and companies:
  • Fannie, Freddie sink on government rescue fears (5 articles)

    • Event tracking:
  • Track this story's development in time

    • Story keywords
    Fannie, Freddie, companies, Mae, Mac

    Source articles
    1. Analysis: A new financial crisis at the worst time (Washington Post, 07/12/2008, 347 words)
    2. U.S. Weighs Takeover of Two Mortgage Giants (nytimes.com, 07/11/2008, 1814 words)
    3. Worst Fears Ease, for Now, on Mortgage Giants (nytimes.com, 07/12/2008, 870 words)
    4. Woes at Loan Agencies and Oil-Price Spike Roil Markets (nytimes.com, 07/12/2008, 799 words)
    5. Putting Their Houses in Order (nytimes.com, 07/12/2008, 774 words)
    6. Protected by Washington, Fannie and Freddie Grew (nytimes.com, 07/13/2008, 1497 words)
    7. Q&A: Freddie Mac and Fannie Mae (BBC News, 07/11/2008, 370 words)
    8. Administration seeks to calm fears over Fannie Mae, Freddie Mac (L.A. Times, 07/12/2008, 731 words)
    9. Loan-Agency Woes Swell From a Trickle to a Torrent (nytimes.com, 07/11/2008, 711 words)
    10. Mortgage stocks cut losses in frantic NYSE trading (cbc.ca, 07/11/2008, 548 words)
    11. The speculation swirling around mortgage giants Fa... (baltimoresun.com, 07/12/2008, 895 words)
    12. How Fallout Could Affect Main Street (nytimes.com, 07/12/2008, 1132 words)
    13. For Short Sellers, It Doesn’t Get Much Better (nytimes.com, 07/11/2008, 722 words)
    14. US mortgage firms' shares slump (BBC News, 07/11/2008, 407 words)
    15. Key US mortgage lender goes bust (BBC News, 07/12/2008, 572 words)
    16. ABC News: Could Fannie Mae and Freddie Mac Be Next? (ABCNews, 07/12/2008, 376 words)
    17. Fannie, Freddie say they have plenty of capital (Washington Post, 07/11/2008, 418 words)
    18. Washington, Wall St. weigh Fannie, Freddie help (L.A. Times, 07/12/2008, 883 words)
    19. Stocks end lower amid worries on Fannie, Freddie (Washington Post, 07/12/2008, 421 words)
    20. Freddie, Fannie shares down on talk of gov't aid (Washington Post, 07/12/2008, 428 words)
    21. Paulson cool to shield Fannie/Freddie investors: report (Washington Post, 07/12/2008, 333 words)
    22. Government considers takeover of Fannie Mae, Freddie Mac: report (Washington Post, 07/11/2008, 353 words)
    23. White House presses Congress on Fannie-Freddie legislation (Washington Post, 07/11/2008, 295 words)
    24. Stocks, dollar slide on latest credit crisis fear (Washington Post, 07/11/2008, 386 words)
    25. When faith is frayed (L.A. Times, 07/12/2008, 977 words)
    26. Dollar higher against the euro, pound (Washington Post, 07/12/2008, 193 words)
    27. Senate passes mortgage rescue plan (Washington Post, 07/12/2008, 851 words)
    28. FOXNEWS.COM HOME > POLITICS (FOX News, 07/11/2008, 525 words)
    29. Senate passes foreclosure rescue bill (L.A. Times, 07/12/2008, 324 words)
    30. Treasurys fall on worries about Fannie, Freddie (Washington Post, 07/12/2008, 499 words)
    31. Treasurys little changed as stocks finish higher (Washington Post, 07/12/2008, 268 words)
    32. Wall Street gains amid financial worries (Washington Post, 07/12/2008, 360 words)
    33. Stocks slump in a turbulent session (L.A. Times, 07/12/2008, 575 words)



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