Freddie Mac shares plunge to $10

Freddie Mac shares tanked 23% on fears that the GSE will need to raise more capital.  The GSEs have been on a roller coaster on the stock market over the last few days as concerns about capital requirements have investors panicked about the future of the two massive mortgage buyers.

Is it just me or is it super-spooky watching two massive government entities that hold trillions in mortgage debt go through the same gyrations as Countrywide, IndyMac and New Century did in their final days?  I’m just saying….

From Market Watch:

Shares of Freddie Mac dove 23% in late afternoon trading on Wednesday, to $10.32, as the stock’s value gyrated for the third consecutive day. Concerns about the company’s possible need to raise capital has punished its shares and shares of its sister company Fannie Mae.

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