Wednesday, March 19, 2008

Fannie Mae & Freddie Mac are to receive $200 billion relief

Stock prices rose to record levels for both companies on Tuesday in predicting a deal would be made on Wednesday. Stock prices rose more than they have with these companies in a quarter century. Office of Federal Housing Enterprise Oversight will announce $200 billion relief at 9am EST. This move is expected to have more weight than fed rate cuts.

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