A senior Treasury official said any increase in the line of credit — now at $2.25 billion for each company_ would be at the Treasury secretary's discretion. The same would apply to any equity investment made by the government.
The official, who spoke on condition of animosity, also sought to send a calming message about Fannie's and Freddie's financial shape, saying: "There's been no deterioration of the situation since Friday."
Sunday, July 13, 2008
Malapropism of the Day
I didn't expect to get a laugh out of an article about the Fed and Treasury attempting to calm fears about the big GSEs (AP: "US spells out Fannie-Freddie backstop plan"), but I did when I got to the second paragraph below: