You just can’t make this stuff up. Don’t try and eat while you read this unless someone is standing by who knows the Heimlich maneuver : [Thanks L!]
WASHINGTON (AP) — The Treasury Department said Tuesday it had hired investment firm Morgan Stanley to help the government assess the risks facing mortgage giants Fannie Mae and Freddie Mac.
For $95,000 to cover the company’s expenses, Morgan Stanley will assess the state of the mortgage market and give the government a financial profile of the two firms. The two mortgage firms received a promise of support from the federal government as part of a sweeping housing rescue bill passed by Congress and signed into law by President Bush last week.
Treasury spokeswoman Brookly McLaughlin said the contract would help ensure the Treasury Department had good advice to decide how to support the two mortgage firms, which together own or guarantee half of all U.S. mortgages.
Hire Morgan Stanley to assess the state of the mortgage market?