Fannie (FNM), Freddie (FRE) 30% Higher Following U.S. Lifeline
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Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) are trading 30% higher in pre-market action, following an aggressive plan announced from the Treasury department late Sunday.
The Treasury plans to temporary increase in the line of credit the GSEs, give temporary authority for Treasury to purchase equity in either of the two GSEs "if needed", and give the Federal Reserve a consultative role in the new GSE regulator's process for setting capital requirements and other prudential standards.
The Treasury plans to temporary increase in the line of credit the GSEs, give temporary authority for Treasury to purchase equity in either of the two GSEs "if needed", and give the Federal Reserve a consultative role in the new GSE regulator's process for setting capital requirements and other prudential standards.
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