Housing and Economic Recovery Act of 2008
Saving Fannie and Freddie
$191B
Disbursed
Jul. 30, 2008
Enacted
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.
More info from thomas.loc.gov
The following programs fall under this initiative:
Preferred Stock Investments (Fannie and Freddie Bailout)
$191B
disbursed
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...