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July 16, 2008

All Business: Freddie, Fannie bailout should raise public ire

  • Some banking experts say Washington politicians spent years looking the other way when Fannie Mae and Freddie Mac were adding huge risk to their businesses.
    • By RACHEL BECK
    AP Business Writer

    NEW YORK — We knew it could happen, even though they said it wouldn’t. The government is using our money again to haul private companies’ hindquarters out of the fire — this time it’s troubled mortgage giants Fannie Mae and Freddie Mac.

    It’s a plan with holes in it.


     
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