Troubling News for Fannie and Freddie


	Troubling News for Fannie and Freddie

Brian Wingfield

8-20-2008 7:56 AM

941 views

tags:

fannie, freddie, obama, mccain

Brian Wingfield says:

Meanwhile, Obama and McCain--one of whom will inherit this problem--lay low about how to solve it.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/0805a4fd-7918-4810-ae24-ba100c5a6b63/7BBF5055-D0E7-41E7-9522-3165BFE4C432/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://online.wsj.com/article/SB121919008026355015.html?mod=hps_us_whats_news" href="http://online.wsj.com/article/SB121919008026355015.html?mod=hps_us_whats_news" style="font-size: 11px;">online.wsj.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://online.wsj.com/article/SB121919008026355015.html?mod=hps_us_whats_news"><P class="times"><A href="http://online.wsj.com/quotes/main.html?type=djn&symbol=FRE" class="times rolloverQuote">Freddie Mac</A> was forced to offer unusually rich terms to investors in a $3 billion auction of its debt, raising anew concerns about the health of the mortgage giant, a vital prop for the U.S. housing market.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://online.wsj.com/article/SB121919008026355015.html?mod=hps_us_whats_news"><P class="times">Investors increasingly believe the U.S. government will take steps to rescue Freddie Mac and its sibling, <A href="http://online.wsj.com/quotes/main.html?type=djn&symbol=FNM" class="times rolloverQuote">Fannie Mae</A>. The Treasury Department recently received authority from Congress to bail out the two companies, although it stopped short of doing so. Both now play a dominant role in financing mortgages. A rise in the companies' borrowing costs could translate into higher mortgage rates for consumers, prolonging the housing slump.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/7BBF5055-D0E7-41E7-9522-3165BFE4C432/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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