The Freddie Mac stock dividend was approved.
The Justice Department said the Federal Home Loan Bank Board acted properly when it distributed $600 million worth of stock in the Federal Home Mortgage Corp., known as Freddie Mac, to the savings and loan industry as a preferred stock dividend. The distribution was an attempt to shore up the S&L; industry’s sagging balance sheet, but the legality of the move was challenged by the Office of Management and Budget.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
