Paulson Says No Plans to Inject Capital Into Fannie and Freddie
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On NBC's Meet the Press this weekend, US Treasury Secretary Henry Paulson said there are no current plans to inject capital into GSEs Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE), after the two reported massive losses last week.
Paulson said the results were not a surprise and the weak housing market will continue beyond 2008.
In July, Paulson set forth an aggressive plan to back the GSEs. Under the plan, approved by Congress, the Treasury could inject massive amounts of capital in the two.
Paulson said the results were not a surprise and the weak housing market will continue beyond 2008.
In July, Paulson set forth an aggressive plan to back the GSEs. Under the plan, approved by Congress, the Treasury could inject massive amounts of capital in the two.
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