Saturday, September 6, 2008

Barney Frank Confirms Fannie/Freddie Interventions

Rep. Barney Frank, D-Mass., the chairman of the House Financial Services Committee, said in a statement that Treasury Secretary Henry Paulson "intends to use the powers that Congress provided it" in a law passed in July to enable Fannie Mae and Freddie Mac to keep functioning.

According to AP
, Frank spoke with Paulson late Friday,but said he did not "know the details of the proposed interventions," and a Treasury spokeswoman declined to comment.

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