Event
Takeover of Fannie Mae and Freddie Mac
The U.S. government placed both companies in conservatorship on 7 September 2008.
- Dates
- 7 Sep 2008
Connections 4
involved
- Fannie Mae Primary record 1
- Freddie Mac Primary record 1
- Henry Paulson Primary record 2
part of
- Financial crisis of 2008 Primary record 3
Timeline 1 date
- 7 Sep 2008 Takeover of Fannie Mae and Freddie Mac
Proof 3 sources
-
The Financial Crisis Inquiry Report (final report incl. dissenting statements), Financial Crisis Inquiry Commission.
Primary record
Fannie Mae and Freddie Mac were placed into conservatorship on September 7, 2008
-
Statement by Secretary Henry M. Paulson, Jr. on Treasury and FHFA Action to Protect Financial Markets and Taxpayers (hp-1129), U.S. Department of the Treasury, 7 Sep 2008.
Primary record
I support the Director’s decision as necessary and appropriate and had advised him that conservatorship was the only form in which I would commit taxpayer money to the GSEs.
-
The Subprime Mortgage Crisis (John V. Duca), Federal Reserve History (Federal Reserve Board), 22 Nov 2013.
Primary record
As a result, two government-sponsored enterprises, Fannie Mae and Freddie Mac, suffered large losses and were seized by the federal government in the summer of 2008.
Page history 1 change
- Add the stories of the bomb and the crash of 20087f68c15
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