FEDERAL GOVERNMENT SEIZES CONTROL OF GIANT MORTGAGE LOSERS FANNIE MAE & FREDDIE MAC

From WaPo:Under the plan, the federal government would place the firms in a legal state known as conservatorship, the sources said. The value of the company's common stock would be diluted but not wiped out while the holdings of other securities, including company debt and preferred shares, would be protected by the government.Instead of giving each company a big capital infusion up front, the