THOUGHT FOR THE DAY!

Truth needs no law to support it. Truth is self-evident to all. Truth withstands re-examination. Truth survives questions. Throughout history, from Galileo to Zundel, only lies and liars have resorted to the courts to enforce adherence to dogma." -- Michael Rivero

 

U.S. likely to recapitalize Fannie, Freddie: report

The U.S. Treasury is growing increasingly likely to recapitalize Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz) in the months ahead on the taxpayer's dime, Barron's reported in its August 18 edition.

The weekly financial newspaper said that such a move could wipe out existing holders of the agencies' common stock, with preferred shareholders and even holders of the two entities' $19 billion of subordinated debt also suffering losses.

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Posted on Aug 17, 2008 at 16:41
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1

On the blood sweat and tears of the people that pay taxes

chillyphantom

Need I say more?

08/17/2008 - 19:22

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