Fannie, Freddie rescue may cost taxpayers $25 billion
- added July 22, 2008
- 1 response
-
-
-
- stone246
- added this
-
-
- related topics
-
- News and Politics (38480)
- News (20728)
- US (2932)
- Economy (2273)
- Money (1369)
- Taxes (264)
- Fannie Mae (57)
- Freddie Mac (42)
Treasury Secretary Henry Paulson's rescue package for Fannie Mae and Freddie Mac would probably cost taxpayers $25 billion, the Congressional Budget Office said.
``There is a significant chance -- probably better than 50 percent -- that the proposed new Treasury authority would not be used before it expired at the end of December 2009,'' the nonpartisan agency, which provides economic and budget analysis for lawmakers, said in a report today.
Democratic lawmakers were seeking to determine the cost of Paulson's plan to offer emergency funding to Fannie Mae and Freddie Mac, which own or guarantee almost half of the $12 trillion in U.S. home loans outstanding. Paulson today said Congress understands ``the demands'' of the housing downturn and will likely approve this week his request to help the government- sponsored enterprises.
``There is a significant chance -- probably better than 50 percent -- that the proposed new Treasury authority would not be used before it expired at the end of December 2009,'' the nonpartisan agency, which provides economic and budget analysis for lawmakers, said in a report today.
Democratic lawmakers were seeking to determine the cost of Paulson's plan to offer emergency funding to Fannie Mae and Freddie Mac, which own or guarantee almost half of the $12 trillion in U.S. home loans outstanding. Paulson today said Congress understands ``the demands'' of the housing downturn and will likely approve this week his request to help the government- sponsored enterprises.
Login/Registration is required to add a response.
