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
- Bank Of America Won’t Have To Pay $1.2 Billion For Countrywide’s “Hustle” Mortgage Scam
- Unilever Buys Dollar Shave Club For $1 Billion In Cash
- Sprint Partnering With UK Tech Retailer To Open Up To 500 New Stores In The U.S.
- Facebook-Owned WhatsApp Crosses 900 Million User Mark
- You Could Buy A Castle, A Trip To Space & The Real Han Solo With Star Wars’ $517M Box Office Take