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Buys in Fannie, Freddie hurt Staunton bank

by Hawes Spencer
published 7:52am Sunday Nov 23, 2008
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Investments in the once highly-rated preferred stock of Fannie Mae and Freddie Mac has cost Staunton-based Community Bank about $10.5 million and left it wondering to jump aboard the federal bailout, which, the Staunton News-Leader reports, isn’t quite the dole people think it is.

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