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Home Depot: Fannie, Freddie bailout needed


ATLANTA The government's bailout of Fannie Mae and Freddie Mac was welcomed by Home Depot, ceo Frank Blake said.

According to a Reuters report, Blake said the U.S. Treasury's decision to take over Fannie and Freddie, which back nearly half of the country's mortages, was a necessary step.


Home Depot and other home improvement retailers have especially been hit hard by the struggling housing market.


The company's shares, along with its competitors, rose by 5% or more on the news of the government takeover, Reuters reported.

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