Stocks tumble on Fannie, Freddie worries

Posted by on August 18th, 2008 at 09:34pm

wrote an interesting post today on
Here’s a quick excerpt
U.S. stocks sank on Monday as the prospect of more losses from the mortgage crisis hurt the shares of banks and the two biggest home finance providers, pushing all three major indexes down about 1.5 percent. Fannie Mae and Freddie Mac shed more than 20 percent each after Barron’s reported that the U.S. Treasury may need to bail out the home finance giants, which could wipe out shareholders and effectively nationalize the government-sponsored enterprises. The Treasury Department responded by s

Read the rest of this great post here

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