Was that $FNMA - Fannie Mae (and Freddie Mac) getting punked today? What, no government funded mortgages? Really?
Does anyone really believe that?
Free markets and private investment is where mortgages belong (IMHO), but I can't see the government stepping away in the era of BIGGER GOVERNMENT.
No way. Not buying it. Ain't gonna happen.
No position in either.
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Common shares of Fannie Mae and Freddie Mac experienced their biggest intraday drop in 10 months after leaders of the Senate Banking Committee announced plans to eliminate the companies in a new bill.
Fannie Mae shares tumbled as much as 44 percent, paring the losses to 31 percent to close in New York at $4.03, after Edwin Groshans, a managing director at Washington-based equity research firm Height Analytics LLC, described the proposal as holder-negative. Freddie Mac fell 27 percent to close at $4.04. Preferred shares also dropped, some by as much as 12 percent.
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