Freddie Mac posts $5 billion loss (Reuters)
Defense asks jury to clear ex-hedge fund managers (AP) AP - Two former Bear Stearns hedge fund managers charged with lying to investors always were honest about the risks of investing in securities linked to the volatile subprime mortgage market, a defense lawyer told a jury on Friday. Best of both worlds? Combined pension/401k plan (AP) AP - Over the last year it's become abundantly clear that the stock market can devastate even seemingly healthy retirement accounts. Even so, with the guaranteed income of traditional pensions disappearing, most investors have little choice. THE INFLUENCE GAME: Business aided by jobless bill (AP)
Neb. senator takes issue with student loan stance (AP) AP - U.S. Sen. Mike Johanns said Thursday that his concern for Nebraska families is what's driving his opposition to legislation that would turn control of student loans over to the government — not lobbying from private student loan provider Nelnet Inc. of Lincoln. Dolan more than doubles 3Q profit (AP) AP - Dolan Media Co., a provider of legal and professional publications and services, said Friday its third-quarter profit more than doubled as revenue grew sharply in its mortgage default processing services business. Ahead of the Bell: Consumer Credit (AP) AP - Consumers likely reduced their borrowing for an eighth straight month in September, as layoffs continue and credit remains tight. The declines in borrowing are expected to drag on the fledgling economic recovery. Fannie Mae seeks $15 bln in US aid after 3Q loss (AP)
Fannie Mae seeks $15 bln in aid after loss (AFP)
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AP - Freddie Mac's losses narrowed to $6.3 billion in the third quarter, but the government-controlled mortgage finance company didn't need a federal cash infusion.
Reuters - Freddie Mac , the second largest provider of U.S. residential mortgage funding, on Friday posted a loss of $5 billion in the third quarter and predicted it would need more government support amid a "prolonged deterioration" in housing.
AP - Emergency help for the jobless will be a huge windfall for Realtors, homebuilders, mortgage bankers and others, and that's no accident.
AP - Fannie Mae is asking for an additional $15 billion in government aid after posting another big loss in the third quarter as the taxpayer bill from the housing market bust keeps rising.
AFP - US state-controlled mortgage lender Fannie Mae posted Thursday another multibillion-dollar quarterly loss and said it needed an additional 15 billion dollars in taxpayer funds.
