NPR logo Fannie Mae Needs Another $8.4 Billion

Fannie Mae Needs Another $8.4 Billion

A few quick updates on stories we've been following:

Fannie Mae says it needs another $8.4 billion from the Treasury. The ward of the state lost $11.5 billion in the first quarter of the year. Last week, Fannie's twin Freddie Mac said it needed another $10.6 billion.

After the jump: Goldman Sachs's trading bonanza, Moody's run-in with the SEC and an overhaul for stock-market circuit breakers.

Those stock-market "circuit breakers" that may have played a role in last week's ultra-fast market crash and recovery are getting an overhaul. Here's a brief statement from the SEC. The WSJ says the multiple exchanges that handle trades are likely to come up with a uniform system. As we noted on the blog and podcast, the lack of uniformity may have been a key driver of last week's market weirdness.

Traders at Goldman Sachs made a profit on every single business day during the first quarter. And on more than half of those days, daily profit exceeded $100 million. Check out the "Daily Trading Net Revenues" table near the bottom of this SEC filing from Goldman. Also in the filing, Goldman lists the various investigations and potential investigations facing the firm; the FT has more on that.

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Shares of Moody's, the big ratings agency, fell nearly 7% today, despite the big rise in the market. The company disclosed late Friday that it's being investigated by the SEC for making "false and misleading" statements to the agency. Moody's says it behaved properly. Here's more from Reuters.