Ben Bernanke comments on Fannie and Freddie

July 18, 2008

Ben Bernanke, the current Federal Reserve Chairman commented in Congress that the troubled duo of Fannie Mae and Freddie Mac were not in any danger of failing. His statement has been interpreted by many that the federal bank will come to the resuce of Fannie Mae and Freddie Mac, just in case they were in the verge of failure. This statement by Ben Bernake has instilled a lot of confidence into the minds of US investors which tranlated into the stock market moving up smartly in early trading session. However, it is not a given that the stockmarkets will end the day in the green. More updates on the same will follow shortly.

Posted in US Banks