U.S. government intervention
protected the numerous creditors – both domestic and foreign – who had
purchased bonds and MBS issued by Fannie Mae and Freddie Mac. Allowing the
Enterprises to meet their debt and guarantee obligations enabled them to
continue to support the secondary market. However, the cost of rescuing the
Enterprises has been high, with total Treasury support for the Enterprises
currently expected to range from a quarter to a third of a trillion dollars.
Full report below…
FHFA OIG
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