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Message: Fannie-Freddie Fix at $160 Billion With $1 Trillion Worst Case

http://www.bloomberg.com/apps/news?pid=20601109&sid=an_hcY9YaJas&pos=10

June 14 (Bloomberg) -- The cost of fixing Fannie Mae and Freddie Mac, the mortgage companies that last year bought or guaranteed three-quarters of all U.S. home loans, will be at least $160 billion and could grow to as much as $1 trillion after the biggest bailout in American history.

Fannie and Freddie, now 80 percent owned by U.S. taxpayers, already have drawn $145 billion from an unlimited line of government credit granted to ensure that home buyers can get loans while the private housing-finance industry is moribund.

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