The two largest mortgage lenders in the US are on the brink of defaulting on their loans. The institutions, Fannie Mae and Freddie Mac, have asked for a government bail out as their shares prices plummet. Commnetators say economic conditions in the States may well have a knock-on effect in Australia. Featured in story: Frank Stilwell – Chair of the Department of Political Economy at the University of Sydney.
Fannie Mae
Freddie Mac