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Fannie Mae, Freddie Mac shares rise on belief bailout not imminent
THE NEWS TRIBUNE
Published: August 28th, 2008 01:00 AM
Mortgage finance giant Fannie Mae shook up its executive ranks Wednesday, after shares in it and sibling company Freddie Mac rose for a third straight day as investors appeared less certain a government bailout of the two troubled companies is imminent.
Fannie Mae, the largest buyer and backer of U.S. home mortgages, said its chief financial officer and two other top executives are leaving the company. Three current executives were promoted to replace them.
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