Fannie Mae, Freddie Mac shares plummet again

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Freddie Mac over 6 months. WASHINGTON (AP) — Shares of mortgage finance companies Fannie Mae (FNM) and Freddie Mac (FRE) continued their plunge Wednesday as investors are increasingly convinced that the stocks will drop to zero if the government bails out the troubled companies. Fannie Mae's chief executive tried to reassure investors that no bailout is imminent. Submitted by: denise1624 | Visited 8 times | Comments 0

♦ Congress questions Fannie/Freddie plan; shares drop more than 26%

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Freddie Mac over 6 months. WASHINGTON — Congressional leaders of both parties Tuesday resisted White House demands for swift action on a Bush administration plan to bolster Fannie Mae (FNM) and Freddie Mac (FRE). Fannie Mae and Freddie Mac, the largest U.S. providers of housing finance, back about half of all American mortgages. After plunging last week and Monday, shares in Fannie fell $2. Submitted by: digital_writer - Visited 2 - Comments 0 - Write first comment

♦ Shares in top US lenders plummet

1 vote	Drops in the share prices of the top US mortgage finance providers Freddie Mac and Fannie Mae have shaken confidence and hit shares in Asia and Europe. Freddie Mac shares fell some 18% while Fannie Mae slipped 16%, pushing shares in banks and finance houses lower. Submitted by: iowadawg - Visited 3 - Comments 0 - Write first comment

♦ Test for Freddie, Fannie could come Monday morning

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"Today our primary focus is supporting Fannie Mae and Freddie Mac in their current form as they carry out their important mission. WASHINGTON (Reuters) — A key test of confidence in mortgage giants Fannie Mae and Freddie Mac could come Monday morning. That is when Freddie Mac is due to sell $3 billion worth of short-term debt, a barometer of market appetite for its securities. Submitted by: ColinR - Visited 2 - Comments 0 - Write first comment

♦ Fannie Mae, Freddie Mac spent millions on lobbying

1 vote	People who have lobbied on behalf of Fannie Mae and Freddie Mac have played or are playing roles in the presidential campaigns of both Republican John McCain and Democrat Barack Obama. WASHINGTON — For years, mortgage giants Fannie Mae and Freddie Mac tenaciously worked to nurture, and then protect... Submitted by: Brinked - Visited 0 - Comments 0 - Write first comment

♦ Officials reassure solvency of Fannie, Freddie as stocks plunge

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Freddie Mac over 6 months. WASHINGTON — Top federal officials Thursday emphasized that mortgage giants Fannie Mae (FNM) and Freddie Mac (FRE) were in no imminent danger of default, even while saying financial markets remained under considerable strain and calling on Congress to beef up regulation. Paulson's comments came on a day when the stock of Fannie and Freddie... Submitted by: andot13 - Visited 2 - Comments 0 - Write first comment

♦ Shares in AIG fall to 10-year-low

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American International Group (AIG) shares fell to their lowest level for a decade on news that it is to raise more money than had been expected. The world's biggest insurer is raising $20bn (£10bn) through the sale of shares, convertible shares and bonds. AIG reported its biggest ever three month loss two weeks ago, having written off an extra $9.1bn from its US mortgage-backed investments. Submitted by: templates - Visited 6 - Comments 0 - Write first comment

♦ McCain backs U.S. actions on Freddie Mac, Fannie Mae

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Republican presidential candidate John McCain said on Monday he backed U.S. actions aimed at saving mortgage finance giants Freddie Mac and Fannie Mae from financial collapse. McCain told reporters the measures announced on Sunday by the Treasury and the Federal Reserve were "correct" and said he hoped Congress will approve them. Help us advance this story. Submitted by: Tyler Banfield - Visited 1 - Comments 0 - Write first comment

♦ FANNIE SMACK: STREET FEARS FIRMS' FAILURE

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Loading new images... July 11, 2008 Worries that mortgage giants Freddie Mac and Fannie Mae are too broke to stay afloat and could need an unprecedented bailout by Uncle Sam shook the capital yesterday, accelerating the tailspin of the companies' stock. Continuing a five-day free fall, shares of Freddie Mac plunged 22 percent to a humbling $8... Submitted by: verybad - Visited 1 - Comments 0 - Write first comment

♦ Fannie Mae and Freddie Mac: Fed launches rescue plan for stricken mortgage firms

1 vote	The US government moved last night to shore up the finances of the beleaguered lenders Fannie Mae and Freddie Mac in a desperate bid to prevent them defaulting on billions of dollars of mortgage debts. Hank Paulson, the treasury secretary... Submitted by: mhmtozek - Visited 3 - Comments 0 - Write first comment

♦ Mac BU is on the road to talk up Mac Office 2008 to IT pros

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Microsoft's Mac Business Unit, responsible for all things Microsoft and Mac, is on tour now with the oddly-named "Office 2008 for Mac District Launch Tour." The tour features seminars on getting the most out of Mac Office and related technologies, and includes Q&A with Mac BU product managers. The main afternoon seminar is for IT professionals, and includes sessions on Word, Excel... Submitted by: shawn_23 - Visited 7 - Comments 0 - Write first comment

♦ Paulson: Pass Fannie, Freddie rescue; banks are sound

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WASHINGTON Treasury Secretary Henry Paulson says Congress needs to quickly approve a support package for Fannie Mae and Freddie Mac to make sure the two mortgage giants maintain their critically important role in housing finance. Paulson made his comments in a speech in New York in which he again sought to reassure Americans that despite the recent turmoil... Submitted by: AAZZ - Visited 0 - Comments 0 - Write first comment

♦ Stocks drop on Fannie, Freddie; Dow below 11,000

1 vote	NEW YORK — Stocks fell further Friday as investors grew more concerned about mortgage companies Fannie Mae and Freddie Mac. The Dow Jones industrials lost more than 220 points and dropped below the 11,000 mark for the first time in two years. Submitted by: BradJames - Visited 2 - Comments 0 - Write first comment

♦ Treasury hires Morgan Stanley on Fannie, Freddie

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WASHINGTON — The Treasury Department says it has awarded a contract to investment firm Morgan Stanley (MS) to help the government assess the risks facing mortgage giants Fannie Mae (FNM) and Freddie Mac (FRE). The $95,000 contract, announced on Tuesday, will assess the state of the mortgage market and give a financial profile of the two firms. Submitted by: digital_writer - Visited 2 - Comments 0 - Write first comment

♦ Paulson should consider receivership for Fannie, Freddie: report

1 vote	The U.S. Treasury Secretary could make greater progress toward a safer financial system by putting Fannie Mae and Freddie Mac into federal receivership... Submitted by: netsavy006 - Visited 2 - Comments 0 - Write first comment

♦ McCain backs action to support Freddie, Fannie

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Republican presidential contender John McCain said on Friday that government assistance would likely be needed for Freddie Mac and Fannie Mae because a failure of the two mortgage giants would have a ripple effect through the entire U.S. economy. Help us advance this story. Provide relevant links or share your insights using our comment box. Submitted by: mmikeyy - Visited 2 - Comments 0 - Write first comment

♦ Fannie, Freddie fears grow

1 vote	Wall Street and Washington wrestled Friday with how to shore up mortgage giants Fannie Mae and Freddie Mac, two troubled pillars of the economy whose failure would deal a devastating blow to the already crippled housing market. Submitted by: AAZZ - Visited 2 - Comments 0 - Write first comment

♦ Paulson says no plans to add cash to Fannie, Freddie

1 vote	U.S. Treasury Secretary Henry Paulson said there are no plans to use his new authority to inject capital into mortgage companies Fannie Mae and Freddie Mac... Submitted by: AaRGeE - Visited 5 - Comments 0 - Write first comment

♦ Behind the Fannie and Freddie Fears

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All debt issued by mortgage giants Fannie Mae and Freddie Mac comes with a prominent disclaimer: "Not guaranteed by the United States." But the business model of both companies, not to mention the continued functioning of the U.S. mortgage market, depends on nobody quite believing that disclaimer. Wrap your head around that contradiction... Submitted by: myriakitty - Visited 3 - Comments 0 - Write first comment

♦ MARTS MANGLED AMID MORE MORTGAGE MUCK

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July 10, 2008 US stocks plunged, sending the S&P 500 index into its first bear market since 2002, after rising borrowing costs spurred concern the biggest mortgage finance companies may not weather the housing slump. Fannie Mae and Freddie Mac led financial shares to their biggest tumble in six years after Fannie sold $3 billion in notes at record yields over benchmark rates. Submitted by: infotainer - Visited 1 - Comments 0 - Write first comment

♦ Democrats, Paulson fight to keep housing bill moving

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Congressional Democrats and the Bush administration scrambled on Wednesday to shore up support for a major housing market rescue bill, as Republican backing for it faltered on doubts about attaching a plan to bolster Fannie Mae and Freddie Mac. Some conservative Republicans were balking at a proposal unveiled over the weekend by the Treasury Department to prop up Fannie and Freddie... Submitted by: R-J - Visited 0 - Comments 0 - Write first comment