by Calculated Risk on 12/04/2007 05:10:00 PM

From the WSJ: Fannie Looks to Raise $7 Billion, Cuts Common-Stock Dividend

... Fannie Mae said Tuesday that it planned to issue $7 billion in non-convertible preferred stock and cut its quarterly common stock dividend by 30% in an effort to boost capital and "conservatively manage increased risk in the housing and credit markets."

Fannie does a Freddie.