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Bankers survey shows support for mortgage bailout
OMAHA, Neb. — Most rural bank CEOs surveyed in eleven Midwestern and Plains states support a federal bailout of mortgage lenders Fannie Mae and Freddie Mac in the event of financial collapse.
But a new report released Thursday says only about 11 percent of the bankers supported such an intervention for investment banks, such as Bear Stearns.
The Bush administration and the Federal Reserve are putting together a support program for the two mortgage giants, which hold or guarantee more than $5 trillion of the nation's mortgages.
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Copyright 2008, The Associated Press. The information contained in the AP Online news report may not be published, broadcast or redistributed without the prior written authority of The Associated Press.
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