Bailout report sends Fannie and Freddie down 20% in after-hours
Here we go again with the after hours trading!
Shares of Freddie Mac and Fannie Mae fell in excess of 20 percent after the market closed. The drop came after the Wall Street Journal reported that the Treasury Department has nearly finalized plans to inject capital into Freddie Mac and Fannie Mae.
Both GSEs have been able to move bonds fairly smoothly in recent weeks, but their stocks have been plagued by rumors of impending government takeover. The article suggested that the deal could be announced this weekend.
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1 opinion for Bailout report sends Fannie and Freddie down 20% in after-hours
It’s official: Government takes over Fannie and Freddie
Sep 7, 2008 at 12:52 pm
[...] Friday night, news broke that the government was finalizing the details of its takeover plan for Fannie Mae and Freddie [...]
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