TITLE

Massive bailout could be turning point for crunch

AUTHOR(S)
Jones, Lee
PUB. DATE
September 2008
SOURCE
Money Marketing;9/11/2008, p5
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the implications of the bailout of Freddie Mac and Fannie Mae by the U.S. government for the credit crunch worldwide in 2008. Many believe that the decision to rescue the mortgage companies in a bailout which is the biggest in history is the first step in ending the credit crunch. Schroders PLC chief economist Keith Wade says this is an important step toward bringing recovery and ending the downward spiral which has gripped markets during the credit crunch.
ACCESSION #
35629786

 

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