Morning Mortgage Meltdown: F&F Snatched from the Jaws of Death...
Monday, July 14, 2008, by Andy J. Wang

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Following Fannie and Freddie's collective nosedive last week, the Fed and U.S. Treasury have joined hands to bring a little love and sanity back on the scene. The Fed said it would lend money to F&F "should such lending prove necessary," while the Treasury said it would seek authority to buy equity in either one "if needed" — because, yeah, the federal government has the cash on hand. Confidence: restored? [WSJ]

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