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Freddie Mac & Fannie Mae Down over 40%

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posted on Jul, 11 2008 @ 11:02 AM
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Freddie Mac & Fannie Mae Down over 40%


news.bbc.co.uk

Shares in US mortgage firms Freddie Mac and Fannie Mae have fallen by more than 40% in early trading amid concerns for the future of the companies.

Investors are concerned that the government may have to step in to rescue them, a move that would wipe out the value of existing shares.
But the US Treasury said it would back the firms in their "current form".

The companies are behind half of all US mortgages and have been hard hit by the slowdown in the housing market.
(visit the link for the full news article)





[edit to correct typo]

[edit on 11/7/08 by pause4thought]




posted on Jul, 11 2008 @ 11:02 AM
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All I'm really going to add is that this is an excellent article giving a good summary of the background to these two crucial players in the mortgage market.

The evidence that a looming meltdown is more than scare-mongering just keeps on mounting.

news.bbc.co.uk
(visit the link for the full news article)



posted on Jul, 11 2008 @ 11:05 AM
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Today's Freddie and Fannie news is already being discussed in this news thread: www.abovetopsecret.com...

Please add your comments to the existing discussion.

Closed.
.

[edit on 7/11/2008 by Gools]



 
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