Tuesday, December 11, 2007

Fannie Mae Must Raise $7 Billion to Help Steady Itself

Fannie Mae, weakened by deterioration in the housing market, said yesterday that it planned to raise $7 billion of new capital to help it stay on solid financial footing. The announcement was further evidence that even the giants of the mortgage funding business, have been knocked off stride by the effects of a nationwide debt bubble.

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