Housingwire was the first to jump on the implications of this story. Standard & Poor’s upgraded the credit of the US federal government, which is pretty amazing considering it’s in debt for almost $17 trillion and growing very rapidly. One of the criteria for the upgrade was the better than foretasted financial condition of Freddie Mac and Fannie Mae, which is interesting because they are technically not part of the government, but rather just assets owned by the government.
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