Fannie and Freddie Downgraded

Fannie And Freddie Downgraded; States Next?

Standard & Poor’s ratings service today announced it was downgrading the credit of Fannie Mae, Freddie Mac and 10 of 12 Federal Home Loan Banks that were propped up by the federal government after the financial crisis of 2008. S&P reduced their ratings one notch, to AA+ from AAA, its very highest rating.

“The downgrades of Fannie Mae and Freddie Mac reflect their direct reliance on the U.S. government,” said Standard & Poor’s in a statement shortly after the markets opened today.

This should have been done back in 2008 – or after the investigation was complete on what happened in 2008.


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