Fannie, Freddie, AIG, GMAC continue to face challenges

12/17/2009 | NYTimes.com

While many of the biggest names in the banking industry are repaying the U.S. government for state aid, Fannie Mae, Freddie Mac, American International Group and GMAC Financial Services are continuing to face difficulties. The companies were caught in the trap of having sold mortgage guarantees. As homeowners default in record numbers, the four financial giants are stuck covering the losses.

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