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Freddie Mac becomes a small-cap stock

Posted by wpcomimportuser1 Monday, September 8, 2008 at 11:41 am
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The giant lender, with a mortgage book of $2.2 trillion, has seen its stock market capitalization drop below $1 billion this morning. Fannie Mae is still above the $1 billion threshhold, but not by much.

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    At last, the government has come to the rescue in a very big way, $200 billion to bail out Fannie and Freddie. Didn't some of us correctly make that prognosis? Indeed the money comes from the tax-payers, but how many of them have also benefited in the mean time?

    The stock market responded upward instantly, with Dow Jones reverses its sliding trend. Naturally so, the world markets are being dragged along, moving northwards for the first time after weeks of dismal performance. But the question is how long will this trend be sustainable when the world economy continues to be sluggish? Could it just be a momentarily flash again?

    Just wait and see. (Tan Boon Tee)

    Tan Boon Tee
    September 9, 2008
    at 2:11 am

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