Fannie,Freddie Ordered to Buy $40 bln Subprime Bonds a month

Federal regulators have ordered Fannie Mae and Freddie Mac, mortgage giants taken over by the government, to start buying $40 billion of troubled mortgage bonds each month as the U.S. government tries to revive the economy, according to a published report. The purchases would be separate from the U.S. Treasury's $700 billion bailout plan,

read more | digg story