US mortagage giants call for bail out
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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.
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