As private finance has retreated from the mortgage sector, the importance of Fannie Mae and Freddie Mac has grown, and they own or guarantee almost half the country's $12 trillion in outstanding home mortgage debt.
Under a provision put into the bill late in its development at the administration's urging, Fannie and Freddie could draw on a temporary line of US Treasury credit or the government could buy shares in them, if they ran into trouble.
(China Daily via agencies July 28, 2008)
