The $100 billion gorilla in the room

Discussion in 'Stock Market' started by DavidS, Nov 19, 2008.

  1. DavidS

    DavidS Anti-Tea Party Member

    Sep 7, 2008
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    New York, NY
    Uh, anyone notice how Fannie Mae and Freddie Mac are doing stock-wise?

    Fannie Mae is trading at 38 cents per share. When we gave them tens of billions of dollars in mid September, they were trading at 49 cents per share.

    Freddie Mac is doing much better!! It's trading at 56 cents per share. When we bailed them out in September, they were trading at 26 cents per share.

    Oh and to make matters even better for them:

    Fannie Mae slapped with NYSE notification - Sacramento Business Journal:

    The Washington, D.C.-based mortgage giant (NYSE: FNM) said on Wednesday its stock price has fallen below the exchange’s price requirements for too long, according to a regulatory filing.

    The average closing price of Fannie Mae’s stock for the 30 consecutive trading days ending Nov. 12 was less than $1 per share.

    As a result, the company’s common stock and each of its listed series of preferred stock are subject to suspension and delisting unless the company notifies the NYSE by Nov. 26 of its plans to cure the deficiency.

    If it does, it will have six months from Nov. 12 to bring its stock price up to required levels above $1 for 30 consecutive days.

    Paulson should be tried and thrown in prison for his incompetence.

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