U.S. Treasury Secretary Steven Mnuchin joined FOX Business’ Maria Bartiromo in an exclusive interview on “Mornings with Maria” on Monday to discuss plans to end government control of mortgage finance giants Fannie Mae and Freddie Mac – which have been under conservatorship for the past 11 years.
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“We think now is the time to recapitalize them, make them stronger, and make sure that taxpayers aren’t at risk and eventually raise third party capital so that we restructure them and that in another housing downturn taxpayers are not at risk,” he said.
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Taking the two government-sponsored enterprises out from under government control could be a win for some investors, as companies could begin to turn a profit.
Fannie and Freddie were bailed out for nearly $200 billion during the 2008 financial crisis. The goal of the two government-sponsored enterprises was to make mortgages more affordable to homebuyers.
This is a developing story check back for updates.
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