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Washington
Inside Washington (08/19/2008)
* WASHINGTON (8/20/08)--Fannie Mae and Freddie Mac shares have been negatively affected by recent speculation that the Treasury Department would have to nationalize the government-sponsored enterprises (American Banker Aug. 19). Treasury Secretary Henry Paulson asked Congress last month to approve the department to purchase Fannie and Freddie shares and give the enterprises a higher line of credit. Though the Treasury wasn’t planning to purchase any shares, the move would reassure Wall Street, he said. Congress approved his request. Fannie’s shares fell 25% to $4.39 a share, while Freddie’s fell 22%, at $6.15 per share. The enterprises’ troubles continued Monday when a planned debt sale was not well-received ...


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