Investing
Lehman's (LEH) Very Late Call On Fannie Mae (FNM)
Published:
Last Updated:
After trading at $4.40 last Friday, Fannie Mae (FNM) moved up to $6.45 yesterday. The markets had come to realize that the mortgage company might be able to raise enough money in the capital markets to make it through the current housing crisis. Even better, it might not have to raise any significant cash at all. By avoiding a total bail-out by the Federal government, FNM’s common shareholders would be saved instead of watching the value of their stock go to zero.
Lehman Bros. research pointed out today that Fannie Mae’s capital reserve position might be better that expected. According to Reuters, "Lehman’s Bruce Harting is the latest among Wall Street analysts to say that the government sponsored-enterprises (GSEs) have no immediate need for capital."
Yes, he is late. Thanks for nothing.
Douglas A. McIntyre
Take Charge of Your Retirement In Just A Few Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s made it easier than ever for you to connect with a vetted financial advisor.
Here’s how it works:
- Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
- Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
- Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.