by Calculated Risk on 7/13/2008 10:46:00 AM

From Jeffrey Birnbaum and Steve Mufson at the WaPo: Freddie Mac's Next Hurdle: Raise Cash (hat tip SS)

Treasury Department officials were working the telephones yesterday to make sure that Freddie Mac ... will be able to sell $3 billion of its securities tomorrow in a previously scheduled sale that has now become a crucial test of investor confidence.
...
Treasury officials were considering several options to backstop the sale in case they discover that interest in the securities is flagging ... Under one alternative, the Treasury or Fed would purchase the securities directly.

Other possibilities are allowing the Federal Reserve Bank of New York to buy the debt indirectly through private brokers or asking private firms to purchase the debt while extending to them either a public or private assurance that the government would back the securities if Freddie were ultimately unable to cover its obligations.

This is a previously scheduled debt sale, and should be very doable.

More concerning is the planned stock offering.