22.10.2008 - New U. S. mortgage chiefs plead for time
From Financialpost.com: As angry protesters shouted outside the doors of the U. S. Mortgage Bankers Association's annual conference in San Francisco, inside the new chief executives of Fannie Mae and Freddie Macsat alongside their conservator and urged the public and the markets to wait patiently for the federal government's bailout package to work. "I think it's uncertain how long it's going to take. I have no doubt it will [work], but I think it's going to take some time," said James Lockhart, the director of the newly created U. S. Federal Housing Finance Agency, which almost seven weeks ago seized control of mortgage insurers Fannie Mae and Freddie Macto prevent the country's mortgage sector from collapsing..... Full Article: Source