WASHINGTON, DC-The Obama government will discuss the future of Fannie Mae and Freddie Mac next Tuesday at a public conference. In the third quarter of the financial year, Freddie and Fannie together have posted a loss of $9 billion, and it will require an estimated $148 billion just to stay afloat.
The dilemma is that while saving the two would cost the tax payers billions, if the government backs out, home buyers would be affected dearly. For the full story, go to The Detroit Free Press.
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