Treasury approves rescue package for Mortgage Giants

The Treasury has decided to approve rescue package for mortgage giants so that they can continue with their business of offering loans to consumers. The 2 largest mortgage finance companies Freddie Mac and Fannie Mae will be able to avail one of Federal Reserve's short term lending programs so that they can recover losses due to decline in share values.

This is the second time in 4 months that the 2 companies have been provided with capital from the government. Hopefully it will help them get over the loss due to prolonged foreclosures and housing crisis.