Events on September 7 in history

Federal takeover of Fannie Mae and Freddie Mac (September 7, 2008)

The United States government takes control of the two largest mortgage financing companies in the US, Fannie Mae and Freddie Mac.

In September 2008 the Federal Housing Finance Agency (FHFA) announced that it would take over the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). Both government-sponsored enterprises, which finance home mortgages in the United States by issuing bonds, had become illiquid as the market for those bonds collapsed in the subprime mortgage crisis. The FHFA established conservatorships in which each enterprise's management works under the FHFA's direction to reduce losses and to develop a new operating structure that will allow a return to self-management.

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Events on 2008

11 Jun

Canadian Indian residential school system
Canadian Prime Minister Stephen Harper makes a historic official apology to Canada's First Nations in regard to abuses at a Canadian Indian residential school.
7 Aug

South Ossetia
The start of the Russo-Georgian War over the territory of South Ossetia.
29 Sep

Dow Jones Industrial Average
Following the bankruptcies of Lehman Brothers and Washington Mutual, The Dow Jones Industrial Average falls 777.68 points, the largest single-day point loss in its history.
29 Oct

Northwest Airlines
Delta Air Lines merges with Northwest Airlines, creating the world's largest airline and reducing the number of US legacy carriers to five.
10 Nov

Phoenix (spacecraft)
Over five months after landing on Mars, NASA declares the Phoenix mission concluded after communications with the lander were lost.

Events on September 7 in history

Federal takeover of Fannie Mae and Freddie Mac (September 7, 2008)

References

Choose Another Date

Events on 2008

Canadian Indian residential school system

South Ossetia

Dow Jones Industrial Average

Northwest Airlines

Phoenix (spacecraft)