Asset Building Event: What are Fannie And Freddie Doing to Stem the Tide?

Fannie Mae found itself on the front pages once again this week with the news that it lost $29 billion in the third quarter of 2008. Scarier still, Fannie’s net worth, which was $44 billion at the end of 2007, now stands at a paltry $9.4 billion.

It has been over two months since Fannie and Freddie were seized by Federal regulators and put into conservatorship. Many of us are wondering, simply, what has happened since? Have they been more active in dealing with the continuing struggles in the housing market? Are regulators upbeat about the future of the mortgage giants?

On Thursday, November 13th from 3:30 pm to 5pm, the Asset Building program looks to find some answers to these questions. We are pleased to welcome Jim Lockhart, Director and Chairman of the Oversight Board, Federal Housing Finance Agency– the entity that is overseeing Fannie and Freddie– to discuss this pressing topic. Joining him will be Barry Zigas (Director of Housing Policy, Consumer Federation of America), Gregory Baer (Deputy General Counsel, Regulatory and Public Policy, Bank of America), Ellen Seidman (Director, Financial Services Policy, Asset Building Program), and Maya MacGuineas (President, Committee for a Responsible Federal Budget and Director, Fiscal Policy Program, New America Foundation).

We hope you join us for what certainly will be a lively and informative discussion. Click here to RSVP.