Lending a Hand to Fannie Mae and Freddie Mac

Wall Street Journal reporter Nick Timiraos explains what’s happened to the government-sponsored mortgage giants Fannie Mae and Freddie Mac since the fall of 2008, and why they continue to be so troubled.

Last week, Fannie Mae and Freddie Mac announced losses for the first quarter of 2010 that totaled $6.7 billion. Now they’re asking for $10.6 billion in government assistance.