Bush: Takeover of housing giants ‘critical’ (AP)

In this May 2, 2007 file photo, the Fannie Mae building in Washington is seen. The Bush administration, acting to avert the potential for major financial turmoil, on Sunday, Sept. 7, 2008 announced that the federal government was taking control of mortgage giants Fannie Mae and Freddie Mac. (AP Photo/Manuel Balce Ceneta, File)AP - President Bush said Sunday that the historic federal government takeover of mortgage giants Fannie Mae and Freddie Mac is needed to keep them from failing, a risk he called "unacceptable" for an economy battered by housing and credit crises.





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