Top Highlights

• We would charge a high interest rate on the loan and take an ownership stake in the company of nearly 80 percent, so taxpayers could benefit if the rescue worked.
• In all crises, there are those who act and those who fear to act.
• “How did we get to this point?”
• the Fed had lent $30 billion to help JPMorgan Chase save the Wall Street investment bank Bear Stearns from failure.
• Bush administration had taken over Fannie Mae and Freddie Mac to prevent the collapse of the two companies responsible for financing roughly half of all residential mortgages in the United States.