The fable of Fannie and Freddie is over

Markets are already losing confidence as the initial euphoria over the Fannie Mae and Freddie Mac bailout dies away.

13th September, 2008

Markets are already losing confidence as the initial euphoria over the Fannie Mae and Freddie Mac bailout dies away.

It did not take long for the markets to have second thoughts on last week’s US government bail-out of Fannie Mae and Freddie Mac, the fallen giants at the heart of the American home loans industry.

After a brief surge last Monday, investors looked beyond the US Treasury’s public signs of confidence. They did...

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