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Confidence is Key in Mortgage Giants Rescue Plan



By Gerald Helguero
24 July 2008 @ 10:33 am ET



In this July 13, 2008 file photo, Freddie Mac Corporate Office are seen in McLean, Va. Rescue legislation sailed through the House Wednesday, July 23, 2008, aimed at helping 400,000 strapped homeowners avoid foreclosure and to prevent troubled mortgage giants Fannie Mae and Freddie Mac from collapsing.
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FNM 1.04 -0.08
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Paulson reasoned that by giving such authority, the market would believe that the government's support was solid, increasing confidence.

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