Suddenly everybody loves Fannie and Freddie

Amazing how quickly Fannie Mae and Freddie Mac have gotten back into the good graces of Congress. The two heavyweight companies insure mortgages. They also buy mortgages and mortgage-backed securities as investments. Less than a year ago they were getting tomatoes thrown at them for being too big and too careless. But now that lots of mortgage lenders are melting down, Congress and the Bush Administration are perceiving Fannie and Freddie as rock-steady sources of financing. (Pictured: Fannie CEO Daniel Mudd.)

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