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Sunday, September 07, 2008 3:14:35 PM
FRE and FNM Government Takeover
As part of the plan, FHFA will operate the companies until they are stabilized and the Treasury will extend financing until Dec. 31, 2009, if needed.
In addition to the new financing facility, Treasury said it will take an equity stake in the two firms through senior preferred equity shares and warrants.
"Under the terms of the agreement, common and preferred shareholders bear losses ahead of the new government senior preferred shares," Mr. Paulson said.
What else is new. Please link back one post in this thread for the charts.
As part of the plan, FHFA will operate the companies until they are stabilized and the Treasury will extend financing until Dec. 31, 2009, if needed.
In addition to the new financing facility, Treasury said it will take an equity stake in the two firms through senior preferred equity shares and warrants.
"Under the terms of the agreement, common and preferred shareholders bear losses ahead of the new government senior preferred shares," Mr. Paulson said.
What else is new. Please link back one post in this thread for the charts.
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