Interest Rate Roundup

Friday, July 11, 2008

Treasury Secretary Henry Paulson on FNM, FRE ...

Here's the statement just released by Treasury ...

Secretary Henry M. Paulson, Jr. made the following comment today on news stories about "contingency planning" at Treasury:

"Today our primary focus is supporting Fannie Mae and Freddie Mac in their current form as they carry out their important mission.

"We appreciate Congress' important efforts to complete legislation that will help promote confidence in these companies. We are maintaining a dialogue with regulators and with the companies. OFHEO will continue to work with the companies as they take the steps necessary to allow them to continue to perform their important public mission."

Early market response: Thumbs down. Dow trading back at lows. DXY (Dollar Index) close to it, down 56 to 71.93 (Aussie dollar is at a new high, incidentally).


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