Well, Paulson just fired his bazooka.
Oh. This.
http://www.bloomberg.com/apps/news?pid=20601103&sid=ajcw4yxxPGJ8&refer=news
How about that. David Moffet will be heading up Freddie. Who knew he had time to mod the crap out of 350Z’s and run a major financial institution?
But anyways. We’ll see…
Wait. So the feds basically bought them out?
What have they done to prevent this in the futrue or are we going to bail them out on a regular basis?
the us government now pretty much owns freddie and fannie.
Hurray, nationalized mortgage industry. I can’t wait to see how much this is going to cost the tax payer and whether it will prop the housing sector back up so another bubble can burst and houses are still too expensive to afford…
what would have been the better option?
outsourcing it to china? 
Based on the recent events in the entire financial and banking market of the US, I would say that time, dedication, and a degree might be optional since no one really knows what they are doing.
You want to know the sad part about that statement?
One of the biggest reasons given by the us gov for doing it was to ensure china that our mortgage industry was secure, so they will continue buying our debt…
I didn’t read all the details, but I think if Feddie were truly insolvent then all the shareholders should be eliminated. They made huge profits when the companies were booming because of stupid business tactics, they should lose all their stock when the companies go under for the same reason.
if they had gone under, what would have happened to all the mortgage holders?
FNM $0.89 -6.15 (87.36%)
PWNED.
I’ve been watching it all day. As soon as it turns around, for however long, im gonna play the dead cat bounce. Might not be til tomorrow.
dead cats dont really bounce though
proof? vid?
touche
yeah, I guess the treasury still hasn’t decided if they are going to eliminate the shareholders all together.
But from I have read, this is going to screw the derivatives market all up. If that is the case, it was completely pointless to “bail out” bear sterns because a systematic threat to the derivatives market was the reason.
But that is just what I read. I am just sitting back and seeing what actually happens, since no one really knows for sure.
Just moved in for 1000 shares of each.
godspeed brother
lol its been chillin at 1 for the past 7 days lol
Looks kind of grim today… 
Total cost was just over $700. A year ago, that was $135,000 worth of stock. I figure it only has one direction to go at this point…