BUSINESS

Market Recap: Markets Wobble Late on Fannie and Freddie News

12/21/2010 05:12 am ET | Updated May 25, 2011

Stocks wobbled late as a government regulator revealed that Fannie Mae and Freddie Mac could cost US taxpayers as much as $363 billion to stay afloat if housing prices continue to drop over the next two years. The report's best case scenario said Fannie and Freddie would only cost taxpayers a total of $221 billion while moderate economic growth in the US would bring the grand total to $238 billion.The Dow Jones closed up 38.60 points (0.35%) to close at 11 146.57 while the S&P eked out a gain of 2.09 points (0.18%) to close out at 1 180.26. ...

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