Fannie, Freddie to Buy $40 Billion a Month of Troubled Assets

Oct. 11 (Bloomberg) — Federal regulators directed Fannie Mae and Freddie Mac to start purchasing $40 billion a month of underperforming mortgage bonds as the Bush administration expands its options to buy troubled financial assets and resuscitate the U.S. economy, according to three people briefed about the plan.Fannie and Freddie began notifying bond traders last [...] continue reading world news