U.S. seizes Fannie and Freddie

Treasury chief Paulson unveils historic government takeover of twin mortgage buyers. Top executives are out.NEW YORK (CNNMoney.com) — Federal officials on Sunday unveiled an extraordinary takeover of Fannie Mae and Freddie Mac, putting the government in charge of the twin mortgage giants and the $5 trillion in home loans they back.The move, which allows the [...] continue reading the breaking news