Foreign Bondholders - and not the U.S. Mortgage Market - Drove the Fannie/Freddie Bailout
September 11, 2008 at 10:30 AM EDT
For anyone who still doubted the growing global influence of such emerging powerhouses as China, consider this: The U.S. government’s decision to take control of foundering mortgage giants Fannie Mae (FNM) and Freddie Mac (FRE) was driven not by worries…