Friday, July 25, 2008

WaMu, Ford, Fannie, Freddie, Citi Decline

Perhaps more than most other fields, business and finance love acronyms. The headline of this story really caught my eye: WaMu, Ford, Fannie, Freddie, Citi Decline.

The companies are Washington Mutual, Ford (how can acronym be made of it?), Fannie Mae (itself a moniker for the National National Mortgage Association, a GSE, er, a Government Sponsored Enterprise), Freddie (Federal Home Loan Mortgage Corporation, also a GSE), and Citigroup (a conglomeration of Citicorp and Traveler's, Citicorp being the old Citibank).

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