Fannie and Freddie to delist -

[joe_momma]

Umm - someone is building a firebreak so these fine institutions can default without crushing the stock market -

Oh my the tax payer is soooooo screwed ($1 Trillion plus including the liabilities that the banks dumped as part of TARP).

Freddie
http://www.freddiemac.com/news/archives/corporate/2010/20100616_nyse.html
Fannie
http://sec.gov/Archives/edgar/data/310522/000129993310002367/exhibit1.htm

IMHO - Buy gold and get the heck out of stocks and Fannie/Freddie paper!

[Ares]

Sing with me now.

F- U - C - K - E - D

A - G - A - I - N

Sung to mickey mouse.

Should just name it the new taxpayers song.

[iOWNme]

Sing with me now.

F- U - C - K - E - D

A - G - A - I - N

Sung to mickey mouse.

Should just name it the new taxpayers song.


Classic...... LOL

[Twisted Titan]

..............................

[k-os]

Sing with me now.

F- U - C - K - E - D

A - G - A - I - N

Sung to mickey mouse.

Should just name it the new taxpayers song.


Funny!

I read an article about this on another site, and was wondering what delist means. From my very brief layman's research of the term this morning, it seems like delisting is another shell game way of hiding bad news. Instead of displaying rotting worthless stocks on NYSE, they just fall off of the charts after being valued at less than $1.00.

This is telling:

Fannie shares have been below the $1 average price level for 30 trading days. NYSE rules require a company to take action to boost its shares or delist.

So by Fanny and Freddie delisting, they're shouting out "we are not even going to attempt to make these worthless organizations profitable."

When the next stimulus is forced down our throats, let's make sure we explain to all of our friends and family how well it's worked out for us so far.

[iOWNme]

Sing with me now.

F- U - C - K - E - D

A - G - A - I - N

Sung to mickey mouse.

Should just name it the new taxpayers song.


Funny!

I read an article about this on another site, and was wondering what delist means. From my very brief layman's research of the term this morning, it seems like delisting is another shell game way of hiding bad news. Instead of displaying rotting worthless stocks on NYSE, they just fall off of the charts after being valued at less than $1.00.

This is telling:

Fannie shares have been below the $1 average price level for 30 trading days. NYSE rules require a company to take action to boost its shares or delist.

So by Fanny and Freddie delisting, they're shouting out "we are not even going to attempt to make these worthless organizations profitable."

When the next stimulus is forced down our throats, let's make sure we explain to all of our friends and family how well it's worked out for us so far.


Very good points k-os.....

[joe_momma]

I read an article about this on another site, and was wondering what delist means. From my very brief layman's research of the term this morning, it seems like delisting is another shell game way of hiding bad news. Instead of displaying rotting worthless stocks on NYSE, they just fall off of the charts after being valued at less than $1.00.



I think you are correct - when the valuation of the companies falls below $1 a share they do not meet requirements for being traded on the exchanges. They could do a reverse split (e.g., 10 old shares become 1 new share) to keep above $1 but the delisting (no longer traded on the exchange) will let them fail in the future without having to meet disclosure requirements required by the exchange (i.e., no public disclosure of where the investor's money really went.").

The deal killer is that Fannie/Freddie are huge in the pension and other retirement funds - seen as a "safe, no risk investment" - there will be a lot of "widows and orphans" who are gonna lose their savings when these "guaranteed" vehicles fail.

[Twisted Titan]

But those same delisting rules where suspended for Citi bank and the other big wigs when they were on the brink.


I rememeber seeing that on CNBC


T