Credit and Loan Blog July Archive

Fannie, Freddie loses up to 50% of stock value

By Website Introductions at 07/15/08 15:27

Oh yes, the bottom of the pit cannot be seen yet.

This was the message that ran across the floor of the stock market when two mortgage firms, Fannie Mae and Freddie Mac loss up to 50% of their stock values in a single day, thanks to speculations that the US government will take over the company to prevent bankruptcy. More details may be found here in CNN.com

Link: Fannie, Freddie shares rebound after senator's assurances - Jul. 11, 2008