Officials of Freddie Mac, the extremely troubled home-loan guarantor, has cancelled its sponsorship of a Republican National Convention event, the Denver Post reports.
According to a July 17 Politico story, Freddie Mac was listed as a co-sponsor of a Sept. 2 event at Minneapolis’s Graves 601 Hotel. Now, a Freddie Mac spokesman tells the Post, “As a result of current market conditions and financial considerations, Freddie Mac has withdrawn from participating in both the Republican and Democratic conventions.”
Freddie’s officials apparently recognized that party-giving looked a little, well, unseemly. “We are focused on the business of our business — serving American homeowners and renters during one of the most challenging housing economies in history,” spokesman Doug Duvall said.