2008-09-01 — syracuse.com
Beacon Federal Bancorp Inc. said Friday the market value of its $6.8 million portfolio of Fannie Mae and Freddie Mac preferred stock has declined by about $3 million since June 30... Regional banks, insurance companies and other financial institutions are taking a hit on the plummeting value of the stock. Earlier this week, JPMorgan Chase said the value of its preferred Fannie and Freddie stock has been halved to $600 million this quarter.
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