FHFA says Fannie, Freddie undercapitalized

10/10/2008 | Washington Post (tiered subscription model), The

The Federal Housing Finance Agency said yesterday that Fannie Mae and Freddie Mac are undercapitalized, even though they have reserves of $9.4 billion and $2.7 billion, respectively. The view stems from the regulator's belief that the cushions aren't "a good enough barometer of the companies' financial footing."

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