In a move to reverse a prolonged housing and credit crisis, the Federal Housing Finance Agency announced yesterday that it is taking over conservatorship of the nation's two largest mortgage lenders, Fannie Mae and Freddie Mac. Originally founded as government agencies, the two companies are now privately run and together comprise more than fifty percent of the mortgage market. Will this drastic effort counter the plunging housing market, which government officials say could lead to financial turmoil here and abroad?
* Jennifer Zuccarelli, spokesperson for the U.S. Treasury Department.
* Thomas Davidoff, Professor of Business, U.C. Berkeley's Haas Real Estate Group.
* Congressman Brad Sherman (D-CA), Member of the House Committee on Financial Services.