Most Washington pundits don’t expect any major political action on mortgage giants Fannie Mae and Freddie Mac before the 2012 election, but growing jitters over the nation’s debt illustrate one potential catalyst that could keep the current conservatorship of the firms from dragging on indefinitely.
On Monday, Standard & Poor’s placed the U.S. AAA-rating on negative outlook. It cited the potential cost of the U.S. government’s conservatorship of the mortgage-finance giants in tilting the scales in its decision.
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