Goodbye Fannie, goodbye Freddie.

shawkins · Sep 8, 2008

Robert Toy said:
FNM Shares 67,783,817
FRE Shares 28,840,433

67,783,817 x .73 = $49,482,222
28,840,433 x .88 = $25,379,581

Which is better than zero. However, I doubt that the loss of $317,029,992,197 will go unnoticed even by the house of Saud.

sassandgroove · Sep 8, 2008

this is like listening to the adults in Charlie Brown.

astonwest · Sep 8, 2008

Robert Toy said:
Will the price of Saudi crude go up?

Capital World Investors, CA
Total holdings Value: $317,104,854,000

Fannie Mae holdings before $1,322,462,000, after $0

Freddie Mac holdings before $472,983,000, after $0

Capital World Investors, CA = Prince Alwaleed bin Talal of Saudi Arabia.

If I'm reading the commas correctly, that means he went from total holdings of (approximately) $317B to $315B.

Oh no! However will he survive on 315 Billion?

shawkins · Sep 9, 2008

shawkins said:
ETA: FNM and FRE are currently trading at .67 and .65, respectively. I predict it closes today around 0.55 and we see a dead cat bounce of $0.10 / share Tuesday morning at 10:00 a.m. I will not, however, be betting on it.

Smug. I haz it.

http://finance.yahoo.com/echarts?s=FNM#symbol=FNM;range=1d

Robert Toy · Sep 9, 2008

Buy u shud

shawkins · Sep 9, 2008

Robert Toy said:
Buy u shud

I also haz broke.

Robert Toy · Sep 9, 2008

Fifty will get you a minimum of a hundred.

Robert Toy · Sep 10, 2008

shawkins said:
Smug. I haz it.

http://finance.yahoo.com/echarts?s=FNM#symbol=FNM;range=1d

There went a quick 50% profit...

Don · Sep 11, 2008

This article from July details a lot of the backstory that many people may not find familiar.

Fannie Mae is not a free-market entity, nor is it a private body that must compete on the same playing field as its competitors. Fannie Mae is representative of all that's wrong with central planning institutions: it is a government-created conduit for carefully crafted financial and market socialism that the bureaucrats uphold for the purpose of propping up their fantasies for pandemic social engineering.

Goodbye Fannie, goodbye Freddie.

shawkins

Ahhh. Sweet.

sassandgroove

Sassy haircut

astonwest

2 WIP? A glutton for punishment

shawkins

Ahhh. Sweet.

Robert Toy

FOB and Slayer of windmills

shawkins

Ahhh. Sweet.

Robert Toy

FOB and Slayer of windmills

Robert Toy

FOB and Slayer of windmills

Don

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