Banking, finance, and taxes
Rumor And The Death Of Fannie Mae (FNM)
Published:
Last Updated:
The sky has fallen on Fannie Mae (FNM) and Freddie Mac (FRE). At least that is the rumor. True or not, shareholders are paying a price after hours. Fannie Mae is down 15%.
Whether the stock should be down at all is anyone’s guess.
The news from The Wall Street Journal was terribly thin.
WSJ.com reports that "The Treasury Department is close to finalizing a plan to help shore up mortgage giants Fannie Mae and Freddie Mac." It adds "Precise details of Treasury’s plan couldn’t be learned."
Another way to put that is that no details are available and the intentions of the Treasury may not be known at all.
Fannie and Freddie has both doubled from their recent lows. The stocks may give all of that back on Monday, and perhaps more.
Or, the rumor could be wrong
Douglas A. McIntyre
Cash Back Credit Cards Have Never Been This Good
Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
