The DJIA is down 155 as I post.
Posted on 05/29/2013 10:01:39 AM PDT by blam
Fannie And Freddie Are Getting Smoked — Down 40% Today
Sam Ro
May 29, 2013, 11:48 AM
Shares of Fannie Mae and Freddie Mac are getting destroyed today.
Stifel Nicolaus' Dave Lutz points us to reports that Senator Bob Corker will push to wind down Fannie and Freddie as part of housing finance reform.
Fannie and Freddie are government sponsored enterprises (GSE) that were created to boost liquidity in the mortgage markets buy packaging mortgages and selling them off to investors as bonds (or mortgage-back securities).
These MBS also came with implicit guarantees, which got the them into trouble when the housing bubble burst.
It's worth noting that Fannie and Freddie are traded on the Over-The-Counter Bulletin Board. Stocks trading on the OTCBB often experience more volatility than stocks traded on the Nasdaq or New York Stock Exchange.
(Excerpt) Read more at businessinsider.com ...
The DJIA is down 155 as I post.
I’d post, but I already jumped out the window...
they’re fairy nice guys from queer across town.
Heh, heh. Yeah, I already saw that thread. Why do you think I jumped.
Fortunately I’m in a one story so I only scared the chickens.
Lol. He looks like the happiest girl in the world. Don’t miss Lurch I’m the veto right hand side of the picture, leading as usual.
Did fannnie and freddie profile like the IRS? Mors for liberals and liberal victim groups - and less for conservatives?
How long ya figure before that guy dumps Frank?
I jumped too, but fortunately am on the first floor.
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