With their share prices dropping and prospects for fresh capitalization remote, there are growing concerns that Fannie Mae and Freddie Mac may be heading for failure, and with it grave repercussions for the entire U.S. economy.
"Shares of Fannie Mae and Freddie Mac continued their freefall on Wall Street today, even as Treasury Secretary Henry M. Paulson Jr. and other federal regulators tried to reassure that the mortgage giants can survive the current economic downturn.
Amid increased speculation that the companies might require a federal bailout or other changes that could undermine the value of their publicly traded stock, Paulson issued a statement saying that "our primary focus is supporting Fannie Mae and Freddie Mac in their current form" -- a remark that seemed to downplay the likelihood of any imminent government intervention.
Important pillars of the nation's housing market, Fannie's and Freddie's ability to weather troubles in the real estate market has been called into question this week on several fronts. With the value of the companies' mortgage-related assets falling and the costs of borrowing on the rise, the Bush administration has begun studying what to do if either of them begins to falter."
FULL STORY: Fannie, Freddie Shares Drop Sharply on Concerns
The state-sanctioned urbicide of Austin
People don’t kill cities. Freeways do.
US to reduce Colorado River water deliveries to Mexico
A new Colorado Treaty amendment reduces Mexico’s Colorado River water allocation by 250,000 acre feet.
New Jersey’s second-largest city bans standalone data centers
Jersey City will continue to allow co-location facilities, such as those meant for research institutions that store their own data.
Amtrak not solely to blame for New Jersey commuter rail's unreliability, report finds
A new study from the Garden State Initiative found that NJ Transit’s budget grew 20% across a 4 year period, but reliability declined significantly over the same period.
EPA erases limits on planet-warming pollution from power plants
Under Monday’s plan, power plants would still have some limits on how much mercury, arsenic and other contaminants they can emit.
Phoenix announces new on-demand transit service, more frequent RAPID buses
Both new services will launch in October, and are part of Phoenix's Project Effective Access Solutions for Easing Congestion.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
Eagle County Government
Harvard University Graduate School of Design
Nashville Planning Department
The Architects Foundation
University of Cincinnati Online
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello
Journal of the American Planning Association