Markets Rise on US Bailout of Mortgage Giants
251 views · Published 9 September 2008 · 2:16 · Indexed 20 September 2026
Channel: Voice of America · 2008 · News & Politics
Financial markets around the world reacted favorably Monday to what could become one of the largest financial bailouts in U.S. history after the Bush administration announced the government take-over of mortgage lending giants, Fannie Mae and Freddie Mac. The government-backed companies own or guarantee nearly half of all housing loans in the United States. U.S. government officials say the bailout was necessary to restore investor confidence and stabilize the ailing U.S. economy. VOA's Mil Arcega reports.
