Now that the magic accounting party is over, Fannie Mae and Freddie Mac are to be removed from the S&P 500 starting Wednesday. The minimum market cap a company needs to be allowed in the index is 5 billion. Freddie’s market cap is $614 million and Fannie’s $1.04 billion. [AP]
By Ben Popken September 10, 2008
More From Consumerist
- First-Time Homebuyers May Only Need 3% Down Payment, But It Won’t Be A Cakewalk
- Former Countrywide Exec Who Helped Secure Bank Of America’s Billion-Dollar Settlement Gets $57M
- Report: FCC May Look Into Comcast’s Don’t-Call-Them-Data-Caps If Implemented Nationwide
- What Will Comcast Do With The $45B It Couldn’t Spend Buying Time Warner Cable?
- Anatomy Of A Comcastrophe: A Look Back At How Comcast Failed To Buy Time Warner Cable For $45B