Chief Says Freddie Won't Raise Capital

Washington Post (03/13/08) P. D4; Hilzenrath, David S.
Freddie Mac CEO Richard Syron said during a briefing for investors and stock analysts in New York that the mortgage finance giant does not plan to raise additional capital to buy or guarantee mortgages. "We think we have enough," said Syron, who also expressed concern that increasing loan capacity through capital-raising could negatively impact the company's current shareholders. Freddie Mac and Fannie Mae could face increasing pressure from policymakers to do more to help stabilize the housing and mortgage markets. Syron also described the current condition of the housing and mortgage markets as a "crisis."