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July 9, 2008
We Love You Freddie! We Love You Not!
You have to love the three-day adventure in Freddie Mac stock this week. The federal financier is getting alternately hugged and kicked by the markets. Today it was kicked. Hard. There are a lot of people out there who simply no longer believe in a standalone Freddie Mac.
As a related aside, for those of you who -- quite rightly -- regularly find yourself saying, What the f**k is Freddie Mac (or Fannie Mae) anyway, here is a good NPR overview of the two.
Anyway, more here from Bloomberg on how traders are just not buying any upbeat talk about Freddie. Essentially, people are arguing the two need to raise buckets more money -- you know, the housing collapse and all -- and it is going to be difficult and highly expensive.
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