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Federal National Mortgage Association Message Board

  • squeezetracker squeezetracker May 11, 2013 11:26 AM Flag

    FNM and FRE Stocks are both going to Zero

    But hey, you can still buy AMR at $.25/share. LOL

    Congress will keep stripping out the off budget revenue and then, if a recap can get done, it will have the debt holders owning all but a smidge to the preferred holders. The common stocks will be zeroed out as the debt owners become the new equity holders along with the new shares issued to pay off Treasury's ~$110B of funding... all that, combined with the reality that Congress won;t let them portfolio loans again and that they will likely lose agency debt guarantee status means that they will never be worth what they were in their heyday.

    That also means that they will have to compete on economic vs subsidized terms, especially as the QE programs are supplanted with arms' length competitive pricing... again, the current form common stocks of FNMA and FRE are zero bound once housing is stabilized.

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