Senator Dodd: Fannie and Freddie are Stable
11 July 2008
Stocks were down sharply this morning over concerns about the stability of Fannie Mae and Freddie Mac, bonds were up. However much of the selling on the stock market was halted when Senator Dodd made a statement at 2pm today, reassuring that no government intervention would be necessary and that Fannie and Freddie, the two government sponsored mortgage giants, were financially sound. Rates should show no change today.
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