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Treasury Department To Bolster Fannie, Freddie

The federal government Sunday took control of Fannie Mae and Freddie Mac in order to stabilize the housing market and end questions about the firms' finances. The Treasury Department is expected to provide billions of dollars to shore up the beleaguered mortgage giants. It's also placing the companies into conservatorship and replacing their CEOs and boards of directors.

Copyright 2023 NPR. To see more, visit https://www.npr.org.

Jim Zarroli is an NPR correspondent based in New York. He covers economics and business news.