September 08, 2008 at 14:45 PM EDT
Fed Pushes Fannie, Freddie Shareholders in Front of Train
The effects of this weekend’s dramatic power grab in Washington are rippling through the financial markets - and the pundits are arguing about who was right and who was wrong about the Fannie Mae (FNM) and Freddie Mac (FRE) bailout. In the meantime federal regulators are quietly doing damage control. Small banks will see large chunks of capital wiped out from equity losses in Fannie and Freddie - but they can now get in line for the government dole.In seizing the embattled mortgage giants the Treasury Department shoved common shareholders in front of the train reaffirming they’d bear the brunt ...
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