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Fri 09 Sep 2008Fannie and Freddie bailout underlines severity of credit crisis

ECONOMICS:ANOTHER SUNDAY, another US government bailout, and it probably won't be the last, writes Alan McQuaid

Rather than marking the turning point that assures an economic recovery, the support that had to be provided to US mortgage giants Fannie Mae and Freddie Mac last weekend simply underlines the severity of the ongoing credit crisis.

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