Fannie Mae and Freddie Mac's Current Financial CrisisFannie Mae and Freddie Mac's Current Financial Crisis

Mortgage giants Fannie Mae and Freddie Mac are presently undergoing a tough time. With confidence level and shares going down significantly for the past week, some people think that a government bailout is about to happen.

Fannie had a 28 percent drop in shares, while Freddie slid 26 percent. The loss in value now totals to 80 percent since the start of the year. It’s alarming how -two financial institutions holding half of the country’s mortgages are starting to crumble in the midst of the housing crisis. Failure in both government-sponsored enterprises (GSEs) could have a devastating effect not only here in the United Stated but in other countries as well.

Foreign governments own money used in both companies’ operations. Investors, companies, mutual and pension funds abroad also have money utilized by Fannie and Freddie.

To prevent further damage, the government came up with measures to help Fannie and Freddie get billions of dollars in the form of a "rescue package". The rescue package aims to buy the company stocks using public money. Aside from that, the Federal Reserve will allow both companies to borrow money at a special rate, and would make one of its short-term lending programs available. Aside from that, the administration is seeking the Federal Reserve’s permission to let Fannie and Freddie secure liquidity.

The Federal Reserve is closely working with the Congress and Treasury to try and put these rescue measures into effect. The Treasury is also seeking to stretch the credit line for both institutions to $300 billion, and buy equity directly from both GSEs to prevent liquidity problems in the future.

The rescue plan was put into effect after close monitoring of both Fannie and Freddie. The government immediately sought precautionary steps to ensure that both mortgage giants have enough money to stay afloat.

MortagesForEveryone.com <> is a site that aims to provide information about mortgage-related concerns like refinancing your home, interest rates, using your home equity, down payments, home improvement loans, and many others.

Romaine lettuce recall 2010: Freshway and Imperial Sysco romaine lettuce recalled

A recall of Romaine lettuce dubbed "Lettuce recall 2010" has been announced for 23 states because of an identified outbreak E. Coli bacteria. At this time 19 people have been confirmed to have been affected by consuming the tainted lettuce, and of those cases three individuals are in what has been characterized as a life threatening state. The FDA has confirmed that 12 people were hospitalized due to the outbreak on Thursday, May, 6, 2010.

The tainted lettuce has been traced back to Freshway Foods of Sidney, Ohio. At this time all lettuce sold under the brand names of Freshway and Imperial Sysco are being recalled. The FDA is currently investigating the source of the lettuce which is now thought to have been grown in Arizona, but a full confirmation is still pending. At this time it is believed that the outbreak is limited to romaine only, but consumers are advised to take extreme caution with all varieties of lettuce sold under the Imperial Sysco and Freshway brand name for the time being.

At this time, the recall has been implemented in 23 states: Alabama, Connecticut, District of Colombia, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Missouri, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Virginia, West Virginia, and Wisconsin. It is not known at this time if the FDA will expand the recall, but the possibility does exist.

The FDA has advised that all romaine lettuce sold under the Freshway or Imperial Sysco names be thrown away, and to further avoid “Bagged salads.” Bagged salads have not been recalled, but it is still considered the safer route to err on the side of caution until the FDA announces the outbreak has ended. It is known that the following Supermarket chains do carry lettuce from Freshway and Imperial Sysco: Kroger, Giant Eagle, Ingles Market, and marsh. The recall is applicable to all romaine lettuce and products containing romaine lettuce with expiration dates through May 12, 2010. If you or someone you know has eaten romaine lettuce within the past 48 and is showing symptoms of a reaction E. Coli bacteria, it is strongly advised that medical attention be sought.

For further information please visit the Freshway Foods website where full details of the recall including any updates are being posted on this voluntary recall. Freshaway Foods also stresses that for the time being it is best for all people to avoid eating romaine lettuce until they are certain that the outbreak of E. Coli O145 has been contained.