Fannie, Freddie rescue gets big price tag as House vote looms
(Reuters)
<p><img src="http://d.yimg.com/us.yimg.com/p/rids/20080722/i/r1117632692.jpg?x=130&y=72&q=85&sig=kna.nQ_Jl.K4nQsATohLgg--" align="left" height="72" width="130" alt="The sign outside a Wachovia Bank branch in Denver is pictured July 22, 2008. Wachovia Corp, the fourth-largest U.S. bank, posted a record $8.86 billion quarterly loss on Tuesday, slashed its dividend 87 percent and announced the elimination of more than 10,700 jobs after losses tied to mortgages soared. The bank has been among the lenders hardest hit by the U.S. housing crisis, following a disastrous $24.2 billion purchase in October 2006 of California mortgage specialist Golden West Financial Corp. REUTERS/Rick Wilking (UNITED STATES)" border="0" /> (http://us.rd.yahoo.com/dailynews/rss/business/*http://news.yahoo.com/s/nm/20080722/bs_nm/fannie_freddie_dc)Reuters - A Bush administration plan to
bolster Fannie Mae and Freddie Mac could cost
U.S. taxpayers $25 billion, congressional analysts said on
Tuesday in a report that triggered debate as Congress moved
toward approving a major housing market rescue package.</p><br clear="all"/>
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