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The bad news just keeps coming:
If any company should of been allowed to go under it was these two: http://money.cnn.com/2008/11/14/news...ion=2008111408
And more from the cnn money front page, Sun microsystems is cutting 6,000 jobs and the monthly retail sales went down 2.6% the most it has declined since retail sales where recorded (1992)...
Not that its not expected but everyday its someone reporting a huge loss, a big corporation reporting mass layoffs etc.
NEW YORK (CNNMoney.com) -- Embattled mortgage finance firm Freddie Mac reported Friday a $25 billion quarterly loss that will force it to start tapping into the $100 billion in taxpayer funds set aside for its bailout.
The loss triggered a $13.8 billion Treasury Department investment in Freddie (FRE, Fortune 500). Treasury will receive preferred shares in the company in return for the capital injection.
The loss triggered a $13.8 billion Treasury Department investment in Freddie (FRE, Fortune 500). Treasury will receive preferred shares in the company in return for the capital injection.
And more from the cnn money front page, Sun microsystems is cutting 6,000 jobs and the monthly retail sales went down 2.6% the most it has declined since retail sales where recorded (1992)...
Not that its not expected but everyday its someone reporting a huge loss, a big corporation reporting mass layoffs etc.