Crosby urged to 'study' US Fannie rescue

American authorities yesterday announced they would take control of the struggling US mortgage giants and begin to buy Mortgage Backed Securities (MBS). The AMI says the move “signals a desire” to help the wider economy in the US and says the UK Government should take note. Sir James Crosby, the former chief executive of HBOS, was commissioned by Alistair Darling in April to come up with ways to kick-start the stagnant UK mortgage market. “This is the US endeavouring to fix capital markets in contrast to the announcement last week by the UK Government, which only sought to deal with reta...