Freddie Mac posts $5 billion loss (Reuters)
Obama signs bill assisting homebuyers, jobless (AP)
Wall St. trial summations hone in on "toast" email (Reuters)
Earnings roundup: Freddie Mac, PriceSmart (AP) AP - Among the earnings stories for Friday, Nov. 6, from AP Financial News: 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. Obama to Sign Bill Extending Homebuyer Credit, Jobless Benefits (Bloomberg) Bloomberg - Nov. 6 (Bloomberg) -- President Barack Obama is set to sign into law a bill that extends $8,000 tax credits for first- time homebuyers and unemployment benefits. Obama set to sign a big tax break for homebuyers (AP)
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 - President Barack Obama signed a $24 billion economic stimulus bill into law Friday, giving tax incentives to prospective homebuyers and additional jobless benefits to those idled by the business slump.
Reuters - The trial of two former Bear Stearns hedge fund managers on fraud charges ended on Friday with sharp arguments over the meaning of the word "toast" in one defendant's email about the subprime mortgage market.
AP - Missed out on Cash for Clunkers? Congress has another deal for you: Buy a home before May 1 and collect up to $6,500 from the government. If you're a first-time homebuyer, get up to $8,000.
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.
