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From Reuters | Fannie Mae and Freddie Mac, the mortgage-lending giants that were seized by
the U.S. government in September 2008, are getting involved with CME group to design a clearing facility for the $414 trillion global market for interest-rate swaps.
Get the full story: reuters.com.
Former Secretary of the Treasury Henry M. Paulson Jr. spoke at the University of Chicago on Tuesday. (Abel Uribe/ Chicago Tribune)
By Greg Burns | A fundamental restructuring of mortgage giants Fannie Mae and Freddie
Mac is “highly likely” as the U.S. government moves to sharply reduce
its involvement in the housing market, former Treasury Secretary Henry
M. Paulson Jr. said Tuesday at the University of Chicago.
But necessary changes can’t occur right away because the financial
system remains heavily dependent on the government-backed companies,
Paulson said at an appearance to promote his new book, “On The Brink.”
