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Don't Buy Fannie Mae Stock, Buy Pizza

On March 14, Fannie Mae stock was floundering around 50 cents per share. On March 15, the fuse was lit on shares of FNMA as housing legislation rumors swirled around the digisphere. By March 16, the stock jumped 20 percent, and by the end of the next day it hit 75 cents per share -- a 50 percent spike in a week on pure rumors. Not bad.A week later, Fannie Mae stock tripled, then lost all of the value it gained in the same day. Does anybody else see a serious problem with this? I do. Originally, I wanted to buy Fannie Mae stock, thinking it sounded like a lucrative idea. The line of thought went something like: The better the housing market does, the better the stock will do, right?

What Will The U.S. Do With Fannie And Freddie? Take Their Money, Of Course

The surplus the United States government magically conjured up for the month of April has created a media maelstrom. A portion of the surplus was on behalf of higher tax receipts following tax season. Another part was a surprise influx of cash from Fannie Mae and Freddie Mac -- to the tune of $95 billion.It would therefore make sense for the U.S. government to keep Fannie and Freddie as long as possible, to serve as a profit engine to zip up its deficits.Think about it. At the moment, the government has Fannie and Freddie in conservatorship. And for the time being, it’s unknown whether shareholders will be entitled to future profits -- all profits currently go to the government. There is also rumor that the two companies will be consolidated into a single entity.
Luxury home in Malibu, California

How Washington Subsidizes Home-Buying For The 1%: Report

Government-owned Fannie Mae and Freddie Mac, which were set up to help blue-collar and middle-class workers buy their own homes at lower interest rates, are also helping the nation's one percent to purchase luxurious homes.
Paul Volcker, former chairman U.S. Federal Reserve takes part in the Spruce Meadows Changing Fortunes Round Table on business in Calgary

Paul Volcker, Regulation Icon, Freed Fannie Mae From Oversight

Paul Volcker, the former Federal Reserve chairman and a great proponent of new bank regulations, was a key enabler in the rise and eventual collapse of Fannie Mae, the government-sponsored enterprise focused on mortgage financing, according to a new book.
A sign in front of the Fannie Mae headquarters is photographed in Washington

"We Need To Shrink" -- Fannie Mae CEO

Fannie Mae (OTC: FNMA), the largest government-controlled mortgage backer, reported its second consecutive quarterly profit for the first time in five years Wednesday, but its CEO said the company should cede business to private investors when the housing market finally recovers.

EU To Criminalize Rate-Fixing...And About Time Too

The EU is looking into the possibility of making Libor and Euribor rate-rigging -- the deliberate manipulation of interest rates that set the benchmark for over $500 trillion in financial contracts - a criminal offense.
An image showing the headquarters of Fannie Mae and Freddie Mac

FHFA Explores Fannie Mae, Freddie Mac Receivership Plan

The future of Fannie Mae and Freddie Mac, the two government-controlled entities that guarantee around 60 percent of the U.S. mortgage market, remains uncertain, but their federal regulator is requesting a plan to wind them down and sell their assets.
File photo shows the headquarters of mortgage lender Freddie Mac in McLean

US Mortgage Rates Hit New Low Of 3.62%

U.S. 30-year fixed-rate mortgages fell to a record low of 3.62 percent, its 10th such weekly record low in the last 11 weeks, following weak economic data, mortgage financier Freddie Mac said Thursday.


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