Monday, July 07, 2008
indymac driven to FDIC; fannie, freddie hammered
looks like the rumors were right. more from calculated risk and housing wire.
but that may not even be the big story today, which is reserved for fannie mae and freddie mac. both saw their equity savaged, off over (-15%) in just today's trading on "news" that both are woefully undercapitalized. more via marketwatch and housing wire. put it down as another waymarker on the road to nationalization.
UPDATE: i have to agree with accrued interest -- the popular story that some lehman report about fas 140 is responsible for FNM/FRE dumping 15% is