In 2008, the U.S.Treasury Department and U.S.Federal Reserve took several actions in response to the deepening financial crisis.One action was the U.S.Treasury Department's move to have the federal government take control of

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In 2008, the U.S. Treasury Department placed Fannie Mae and Freddie Mac into conservatorship, effectively taking control of the two government-sponsored enterprises that play a critical role in the U.S. housing market. This move aimed to stabilize the financial system and prevent the collapse of these institutions, which had been struggling due to mounting losses from the subprime mortgage crisis.