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Mounting Woes Left Officials With Little Room to Maneuver

Wall Street Journal Original article ›

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LyrArc Article Gist
A detailed account of how it happened and the hard work of Secretary Paulson from meetings at 7am to 11pm, with one banker saying it was harder than prison where you get 3 full meals a day. While Treasury reviewed its options, it asked Morgan Stanley bankers and Fed officials to go over the books at Fannie and Freddie. Treasury also handled calls from foreign cenral banks holding Fannie and Freddie bonds. The long meetings at Treasury, those involved, and the final meeting with the CEO's of the 2 companies where Paulson told them "Accept, or it will happen," they could go willingly or FHFA would declare them undercapitalized and take them over involuntarily.

Takeover of Fannie and Freddie by the government

09/08/2008

The weeks before the takeover and the work of Secretary Paulson and Ben Bernanke.

Grouped Articles

Fannie, Freddie Payments Nearly Match Aid

Wall Street Journal 11/08/2013

White House Rejects Fannie-Freddie Recapitalization Plans

Wall Street Journal 11/23/2013

Plan for Mortgage Giants Takes Shape

Wall Street Journal 03/12/2014

Putting the Hit on Fannie, Freddie

Wall Street Journal 03/12/2014

Senators Draft Housing Finance Overhaul

New York Times 03/11/2014

Few Stand to Gain on This Bailout, and Many Lose

New York Times 09/08/2008


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