Treasury Secretary Henry Paulson says alone it won't be enough, but mortgage giants Fannie Mae and Freddie Mac will step up their purchases of mortgage-backed securities hurt by the housing and credit crisis.
Paulson says the move will help support the crippled housing market.
He also says the Treasury Department will expand its program to buy mortgage-backed securities. That program was announced earlier this month when the government took control of the two troubled mortgage giants. At that time, the Bush administration said it planned to purchase 5 billion dollars in mortgage-backed securities issued by Fannie Mae and Freddie Mac.
Paulson didn't say how much the Treasury program or Fannie and Freddie would expand, but the moves are aimed at increasing the flow of money in mortgage markets.
do i look like linds lohan?
dfasdasdfa0987654321 3 years ago
Is Ron still in the race?
ARTOFWAR2008 3 years ago
How many years will I spend in jail if I conterfit $1,000,000,000,000
b1b2h3 3 years ago
How many years in jail will they give me if I conterfit money?
b1b2h3 3 years ago
Debt based money backed by its own printing press labor, and Government based Debt jobs created from a printing press! We don't labor enough in this country for as strong as our currency is! The world is one big Debt bomb because of Debt based money system is world wide!
Budvb 3 years ago