By now we are all learning how the government is bailing out Fannie Mae and Freddie Mac. Darn. Should have, could have.
Fannie Mae (FNM) is selling currently for $8.16 a share yielding 17.07. Freddie Mac (FRE) is selling for $5.97 and yielding 17.99.
Yes, you too can own stock of a "company" that pays no taxes and has decent yields. Plus, lofty goals of helping Americans experience that great dream of home ownership.
Check your mutual fund holdings, you may own some right now. How lucky for you the government (we, the people) are helping you out.
I realize the housing market is helped by these entities but to the same extremes as many of the mortgage makers these past 6 years.
No job? No income? No savings? No problem.
Here we see clearer the problem and here comes the government riding in on a white horse.
Oh, when you hear Christopher Dodd comments on the disgrace of all the financial problems, remember he is on the banking committee. Duh! And then there's Shumer of NY whose comment on IndyMac brought it to its knees quicker than expected. Open mouths recorded as news.
'til later
No comments:
Post a Comment