Witnesses testified about the financial stability of Fannie Mae and Freddie Mac, saying the outlook was troubled for the enterprises due to a weak economy, high unemployment, and uncertainty in the housing markets. Fannie Mae and Freddie Mac had already received $100 billion in assistance from the U.S. Treasury and were placed into federal conservatorship in September 2008. The second panel focused on the future of the enterprises and whether they should be privatized, nationalized, or left in their current condition.