Newspaper wrap-up: Fannie, Freddie stabilization becomes a game of political chicken
Posted Jul 17th 2008 8:00AM by Laurie Pasternack
Filed under: Newspapers, Magazines, Federal Natl Mtge (FNM), Teva Pharm Indus ADR (TEVA)
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MAJOR PAPERS:
- The Wall Street Journal reported that it is the Bush Administration versus Democrats versus Republicans to decide the strategy to stabilize Federal National Mortgage Association (NYSE: FNM) -- Fannie Mae -- and Federal Home Loan Mortgage Corporation (NYSE: FRE) -- Freddie Mac. The Administration's plan would let the Treasury Department advance a credit line and the opportunity for the government to buy equity in either firm. A package is expected to pass but not before the political and economic ramifications are battled out. Democrats and Treasury want it to be a part of a housing rescue plan; Republications oppose it.
- The Clinton Foundation, headed by former President Clinton, believes it has a pricing agreement in place that it expects will make malaria drugs affordable and available to millions of poor people worldwide, the Wall Street Journal reported.
- The Financial Times reported that UBS AG (NYSE: UBS) and Liechtenstein's LGT Group will today be accused by U.S. Congressional investigators of using the "cloak of bank secrecy laws" to help American clients evade billions of dollars in taxes.
OTHER PAPERS:
Tags: acquisition, Barr, barr pharmaceutical, BarrPharmaceutical, BRL, Bush Administration, BushAdministration, Clinton, Clinton Foundation, ClintonFoundation, Democrats, fannie mae, fannie maefreddie mac, FannieMae, FannieMaefreddieMac, FNM, FRE, freddie mac, FreddieMac, LGT Group, LgtGroup, Republicans, tax evasion, TaxEvasion, TEVA, teva pharmaceutical, teva pharmaceuticals, TevaPharmaceutical, TevaPharmaceuticals, UBS, UBS AG, UbsAg
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