Freddie Mac and Fannie Mae are American household names and were created decades ago to foster affordability and stability in the US housing market.
Together, they guarantee around $US6 trillion in outstanding home loans. But with 50 million mortgage customers, the two government-backed companies are weathering the lion’s shares of the subprime mortgage crisis.
So comments from a former Federal Reserve president, William Poole, that the pair might need bailing out, rocked confidence in an already troubled sector.
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