Paulson probably didn't say that. However, even if he did--the arguement that you are making is irrelavent to us. Most of the people here bought FRE or FNM at under $1.00.
The current price per share for FRE is $0.73 cents a share or 1/100th (1%) of its former high of around $73 dollars a share. That means that most of us get a 1000% gain if FRE only goes up to 1/10th (10%) of its former high.
In other words: We don't need much to make out real well.
I think you should add the politicians of the last 16 years to that group. No reason to give them a pass. While we are at it, lets include all the arrogant CEO's that have been paying theirself outlandish compensation while cutting wages, benefits and jobs of the middle class. This has been an economic experiment that has gone bad.
It is true, in his statement that black Sunday, Paulson stated that fre and fnm will not be run to maximize shareholder value. This came after his statement of the government changing the CEO of each company, suspending the dividends of each company, taking away the shareholder voting rights. If that action wasn't enough to equate his statement, then you can't be very bright and how the heck do you get through college? Don't stop your thought process there... Paulson stated they had no intention of wiping out the common shareholder. He stated several times that shareholders should be patient because the taxpayers and shareholders stand to gain some profits. A very general statement. But, his expectations were based on information at that time. As we all know, these gov shet heads have decieved and changed the game plan before ever executing any plan. Talking about not knowing what is really going to happen,,,lots of uncertianty. However, money is being used to buy its first batch MBS. That provides the first subatance of any government backing action, Jan 2009. Secondly, the warrants (though not issued) have discounted the 80% value of the common stock price based on expectation they will be executed. As, someone stated $1 represents 20% value of the stock price before the takeover. So, I agree, you won't see this stock above $1 until Government releases it from Conservertorship. When will that happen? Remember that it can be done when the Treasury feels the companies are financially sound or upon expiriation (12/31/2009) of the agreement.
Which ever comes first. 12/31/2009, if not released, the shareholders are postured to sue the government for violating their constitutional rights by the government illegally confiscating the shareholder's property without fair value compensation. This is being done by big institutions and funds. Retail Investor will sit on the side lines and wait for outcome of case... retailers will be able to file suit after the case to recover based off previoius court case decision (Institutions). A very important aspect in recovering some or all of your losses.
fact: If Obama doesn't right the wrong on fre/fnm, there will be more than financial chaos....interest is accruing daily on lost ammounts, class action lawyers are already ready to pounce. slam dunk issue here, fed will have to pay billions or make billion restoring fre/fnm. Obama is no dummy or is he?? He can be a hero or a zero. I'm betting he'll be a hero.
liar????? i've checked your history out. Why do you talk about Jews that way??/ and why are you so negative???? you need to quit posting lies. I was there listening to Paulson that Sunday with Lockhart and he. yes Paulson made a mistake, as did the entire bush administration, plus barney Frank and several democrats are to blame also especially for this finacial crisis. they will be punished either by court or their own conscience. It never fails. good always wins in the end.