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

San Diego to Rescind Multi-Unit ADU Rule
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Has President Trump Met His Match?
Doug Ford, the no-nonsense premier of Canada's most populous province, Ontario, is taking on Trump where it hurts — making American energy more expensive.

Study: London ULEZ Rapidly Cleaning up Air Pollution
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San Jose Mayor Takes Dual Approach to Unsheltered Homeless Population
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Atlanta Changes Beltline Rail Plan
City officials say they are committed to building rail connections, but are nixing a prior plan to extend the streetcar network.

Are Black Mayors Being Pushed Out of Office?
The mayors of New York, St. Louis, and Pittsburgh all stand to lose their seats in the coming weeks. They also all happen to be Black.
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