The stocks value has collapsed and another federal bailout is at hand. It could happen within the next few days. Not only are the Feds having to bail out Bear Stearns . . . but more fallout to come on housings largest mortgage underwriters.
http://www.forbes.com/markets/2008/07/10/paulson-gse-update-markets-econ-cx_md_bw_0709markets43.html
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
2 comments:
Joe:
It's a fact that if Fannie & Freddie actually played by the rules they are governed under.
Both agencies would be declared insolvent overnight.
Insiders inside the beltway have known this for over a year.
Quite frankly I was surprised that this was "big news" yesterday.
Anyone holding stock in their mortgage backed securities needs to sell. The only way to play these is short...
HOT TIP:
Dump your "Fannie & Freddie" stock and buy Gannett now -- its cheap!
Stoker the Broker
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