Housing and Economic Recovery Act of 2008
Saving Fannie and Freddie
We're tracking where the bailout money is going. Our lead bailout reporter – and blogger – is ProPublica's . Lead developer is .
- Our frequently updated database tracks every dollar. In the scorecard, we provide a summary generated from the latest numbers.
- Our bailout recipient list tracks the companies to which Treasury has committed money.
- In the bailout map, we track bailout recipients by state.
Enacted Jul. 30, 2008
$400 billion total available
$183 billion committed
The Housing and Economic Recovery Act of 2008, passed in July 2008, was a broad bill that launched a foreclosure relief program, overhauled regulation of Fannie Mae and Freddie Mac, and provided for shoring up both Fannie and Freddie with taxpayer funds if they were in danger of running out of money.
Go here to see a breakdown of the bailout of Fannie and Freddie.
More info from thomas.loc.gov
Go to list of all initiatives and programs
For our blog, resources and more, see our main bailout page.
The following programs fall under this initiative:
Preferred Stock Investments
(Fannie and Freddie Bailout)
Promised: $182.8 billion
On Sep. 7, 2008, Fannie and Freddie were essentially nationalized: placed under the conservatorship of the Federal Housing Finance Agency. Under the terms of the rescue, the Treasury has invested... More info...