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Monday, September 08, 2008

Wells Fargo to take Fannie & Freddie Related Write-Down

by Calculated Risk on 9/08/2008 05:24:00 PM

From the WSJ: Wells Fargo Says It Will Take Third-Quarter Write-Down On Fannie, Freddie Holdings

Wells Fargo & Co. said ... its perpetual preferred investments in Fannie and Freddie are included in securities available for sale at a cost of $336 million and $144 million, respectively. Those securities now trade at 5% to 10% of their original value.
The F&F confessional is open.