Fannie and Freddie Ride Again: Financial Winne
Post# of 99133
Posted On: 05/24/2013 8:34:49 PM
Fannie and Freddie Ride Again: Financial Winners
NEW YORK ( TheStreet ) -- Fannie Mae ( FNMA _ ) and Freddie Mac ( FMCC _ ) were again huge winners on Friday.
Shares of Fannie Mae were up 41% to close at $2.97, while Freddie Mac was also up 41% to close at $2.81, after Ralph Nader in an op-ed piece in the Wall Street Journal said the two companies' common shareholders should fight against the federal government's "great Fannie and Freddie rip-off.".
The two mortgage giants together are known as the government-sponsored enterprises, or GSEs, and were taken under government conservatorship in September 2008.
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