Deborah Solomon, Bloomberg
After nearly four years of a zombie existence, the U.S. Treasury Department finally pulled the trigger on Fannie Mae and Freddie Mac.In revising the terms of the companies' bailouts, the Treasury is ensuring the mortgage giants never resume their heady roles as private companies. It's an ironic twist for Fannie and Freddie, which once employed armies of lobbyists to protect their status.Under the new arrangement, the companies will not be able to keep a single dime of profit they earn -- the money will all flow back to the U.S. Treasury. The move, which also requires Fannie and...
After nearly four years of a zombie existence, the U.S. Treasury Department finally pulled the trigger on Fannie Mae and Freddie Mac.In revising the terms of the companies' bailouts, the Treasury is ensuring the mortgage giants never resume their heady roles as private companies. It's an ironic twist for Fannie and Freddie, which once employed armies of lobbyists to protect their status.Under the new arrangement, the companies will not be able to keep a single dime of profit they earn -- the money will all flow back to the U.S. Treasury. The move, which also requires Fannie and...
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