Fannie and Freddie bailed out

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America's biggest mortgage guarantors - Fannie Mae and Freddie Mac - are temporarily taken over by the U.S. government. The move comes after the biggest surge in mortgage defaults in at least three decades threatened to bring down the failing firms. Between them, Fannie Mae and Freddie Mac make up almost half the U.S. home loan market.Susan Flory reports.

Tags: mortgage, Fannie Mae, Freddie Mac

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