{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Shares of investment banks tumbled Friday morning as the broader market sank amid worries government-sponsored mortgage giants Fannie Mae and Freddie Mac might need a government bailout.' data-url='/boclips/videos/5c54c162d8eafeecae151c6f' data-video-url='/boclips/videos/5c54c162d8eafeecae151c6f' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nShares of investment banks tumbled Friday morning as the broader market sank amid worries government-sponsored mortgage giants Fannie Mae and Freddie Mac might need a government bailout.\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eHEADLINE: Fears Grow Over Mortgage Giants CAPTION: Stocks of Fannie Mae and Freddie Mac are hammered as the housing slump spreads, but the Bush administration says it's not planning a federal takeover of the mortgage giants. (July 11)...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eHEADLINE: Fears Grow Over Mortgage Giants \u003cbr/\u003eCAPTION: Stocks of Fannie Mae and Freddie Mac are hammered as the housing slump spreads, but the Bush administration says it's not planning a federal takeover of the mortgage giants. (July 11)\u003cbr/\u003e [Notes:ANCHOR VOICE]  \u003cbr/\u003e [Notes:Housing file footage, file of Fannie and Freddie offices]\u003cbr/\u003eIt's the latest shock-wave from the housing crisis: fears that mortgage giants Fannie Mae and Freddie Mac could go belly-up.\u003cbr/\u003eShares in the two government-sponsored mortgage companies have been hammered ...\u003cbr/\u003e [Notes:Bush helo/wave from today's departure]\u003cbr/\u003e...and their future's being debated by President Bush and his top advisers.\u003cbr/\u003e     BUSH SOT: Freddie Mac and Fannie Mae are very important institutions. We spent a fair amount of time discussing these institutions.\u003cbr/\u003e [Notes:More file Fannie/Freddie]\u003cbr/\u003eBut administration officials insist they're NOT readying a federal takeover.\u003cbr/\u003e [Notes:To Paulson on the Hill]\u003cbr/\u003eTreasury Secretary Henry Paulson says right now, HE thinks the two just need better oversight -- and do NOT need more cash.\u003cbr/\u003ePAULSON SOT: \"We have a situation here where the regulator, the independent regulator said there's adequate capital.\" FONT: Treasury Secretary Henry Paulson\u003cbr/\u003e [Notes:File Wall Street, then more housing file]\u003cbr/\u003eBut those words have NOT reassured investors, who seem convinced that as big as they are, Fannie Mae and Freddie Mac could be swamped by more bad loans.\u003cbr/\u003eWho are these two? The Federal National Mortgage Association and Home Loan Mortgage Corporation were chartered by Congress to make home loans cheaper and easier to get for average Americans.\u003cbr/\u003e     ZIBEL SOT: \"WHAT THE TWO COMPANIES DO IS THEY BUY MORTGAGES, YOUR ORDINARY HOME LOANS, AND PACKAGE THEM INTO INVESTMENTS THAT INVESTMENTS BUY AROUND THE WORLD. AND THEY'RE PERCEIVED AS VERY LOW RISK INVESTMENTS UNTIL RECENTLY.\" FONT: Alan Zibel, AP Business Writer\u003cbr/\u003e [Notes:More file housing slump]\u003cbr/\u003eBetween them the two hold or guarantee some $5 trillion in loans. Failure by either could be disastrous -- but a federal takeover would NOT be a cure-all.\u003cbr/\u003e     ZIBEL SOT: \"The fear is that their ability to buy home loans would be reduced and the availability of home loans would decrease. I think the government is going to do everything it can to prevent that.\"\u003cbr/\u003e [Notes:Standup close]\u003cbr/\u003e Right now, with regular banks under siege, the administration's depending on Fannie and Freddie to keep cranking out those mortgages. Anything that makes them write fewer or more expensive loans -- would be the LAST thing the embattled housing market needs.\u003cbr/\u003eMS, The Associated Press, the White House\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" 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