• Most Popular
  • Most Shared

Freddie Mac has no comment on US Treasury takeover

Sun Sep 7, 2008 12:53pm EDT

Stocks

   

NEW YORK, Sept 7 (Reuters) - Freddie Mac (FRE.N), the second largest provider of funding for U.S. home mortgages, said it does not plan to issue an immediate statement after the government on Sunday assumed control of the company and larger rival, Fannie Mae (FNM.N).

Stocks  |  Bonds  |  Global Markets

"At this point, Freddie Mac does not plan to issue a statement or comment on today's announcement by the U.S. Treasury Department and Federal Housing Finance Agency," spokeswoman Sharon McHale said in an e-mail.

The Treasury is taking an equity stake in the companies and placing them under conservatorship to manage their businesses of providing money to the housing market.

(Reporting by Al Yoon)

Stocks
Bonds
Global Markets


More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    PICTURES
    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    Oddly Enough
    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

    Global Markets