Government to wipe out Fannie/Freddie shareholders by Sunday

And now what could become history's biggest transfer of tax dollars to bail out bad lending begins. Last month Congress passed a bill that gave the Treasury Department $800 billion to bail out Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE). And while it is unclear how much money will be used to bail them out, the general outlines of the soon-to-be-announced terms are becoming clearer than they were last night.

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And now what could become history's biggest transfer of tax dollars to bail out bad lending begins.

And now what could become history's biggest transfer of tax dollars to bail out bad lending begins.

And now what could become history's biggest transfer of tax dollars to bail out bad lending begins.

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