Fannie Mae And Freddie Mac Asked To Rescind Bonuses

Chairman of the House Financial Services Committe Representative Barney Frank asked Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) to rescind bonuses at the two mortgage lenders. Both companies were taken over by the government. Shares of Fannie Mae tumbled 27 cents to close at 70 cents while Freddie Mac stock dropped 28 cents to close at 73 cents.