Wall Street Forsake Financial Stocks
Read the full article: http://jeflin.net/2008/07/12/wall-street-forsake-financial-s...
Trading fears stemmed from possible insolvency of Fannie Mae and Freddie Mac which could lead to a government buyout. Losses were trimmed after reassurances that “both firms will be kept in their current condition” and an emergency discount window for direct borrowing from the Federal Reserve may be made available.
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