Premarket: Unsteady Freddie
Freddie Mac s disappointing earnings pressured the company s stock in premarket action, and it had a dampening effect on index futures as well as the market awaits another day of testimony from Federal Reserve Chairman Ben Bernanke. Freddie shares declined 4.3% after the government-chartered mortgage clearing company posted a wider-than-expected fourth-quarter loss. The company said it took $3.1 billion in write-downs and said it expects billions in credit losses in 2008 and 2009. The company