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I'll agree to that.
Well...let's do my .86 then your .36 :)
All I'm hoping for is .86
I'm just hoping for .86 so I can breakeven and get out.
Will this make a run close to a $1 by days end?
Nice close.
A lot of buying.
I know...decisions..decisions.
I'll be gone the next 2 days..better get out before close.
You don't recommend holding overnight?
Is the dump coming again.
Wonder what tomorrow will bring???
I think your right.. sometimes I just have to walk away - then peak again.
So far :)
Would like to see at least a 1.10 close today.
Wonder if this will run tomorrow also?
Is this going to bounce back up today...
What the hell is happening?
No one knows yet. They could very well keep them - time will tell.
Rickockulous...you are absolutely correct. Everyone is so focused on this going to pink-land or delisting. I haven't heard what the decision is on the commons yet. Yes, BK is not good for the commons, but there has been cases where commons were kept. Perhaps we will get lucky. One never knows until it's official.
That's just their opinion. Read 2 other analyst opinions where the commons may stay in tack. Just have to wait and see what the real plan is. Until then, just all speculation.
I suppose the longer this lingers the better in terms of still trading. With the current news, does anyone foresee a possible run back to the mid .50's? I've seen a few do it.
I'm somewhat confused as to why many thing AMR is going to file BK? I actually talked to an AMR pilot today and had a detailed conversation with him about what has recently occurred. He said the whole stock dump was a knee jerk reaction, thanks to the media. They had a certain amount of planned retirements per month, but more decided to leave early to lock-in the current stock price. The media and WS "assumed" the pilots knew something and started the rumor that BK must be in the talks. Which in turn cause a major selloff. He said they have over 5B in the bank and have restructured much of their debt to lower payments. Also, they have enough cash to take them well into late next year. They just ordered airplanes and are looking into the B787's. He did note that they are not in the best of financial position and are burning cash, but feels they are in no immediate danger of BK. Some type of merger or codeshare would help tremendously. I also listened to an airline analyst several days ago stating that AMR is in no immediate danger to BK. What the analyst said was almost identical to our conversation today. The media hyped this.
I feel they will be fine, but they do have a long road a head of them
Does anyone see this making a run to the .75 - $1 range again? I know they are bk, but is there a possibility that the commons will pull through this? The reading I have done, there seems to be some statements that may suggest a positive out come. It would be the first for me on a bk stock. However, stranger things have happened,
I would love to get my original investment back, but I think it's impossible. I would have to buy a 1k to average about .53 and I'm having a hard time swallowing that pill. I was hoping for a run if this hangs on. Yes, I bought very high several years ago. Time will tell.
1kaos1979... is there a motorcycle in that picture somewhere? I can't find it :)
If I knew, I wouldn't be asking, but thanks for giving me the prior history!
Wonder why?
Ouch...who is dumping? Figures, I accumulated all day.
Interesting...my buy just went as a sell.....playings games.
steveooo...thanks for the great news - R/S coming!!!! Glad to hear "Revenue/Sales" are finally coming :)
I'm out...don't trust it anymore. Will sit by the sidelines and watch for awhile. GLTA
Wonder which way this will go today? I'm afraid to look.
--------------------------------------------------------------------------------
Fannie Mae, Freddie Mac phase-out plan due from Obama
Ben Rooney, staff reporter, On Wednesday February 9, 2011, 8:20 am
The Obama administration will issue a proposal later this week recommending the gradual elimination of government-sponsored mortgage backers Fannie Mae and Freddie Mac, a White House official said Wednesday.
The highly-anticipated "white paper," which is expected to be released Friday, will include three different options for reducing the role government plays in the mortgage market, the official said.
While the paper would mark an important development in the debate over what to do with Fannie and Freddie, a final decision by Congress is not expected any time soon.
After being rescued by the government in 2008, Fannie and Freddie have presented a major conundrum for policymakers in Washington.
The problem is that phasing out the two publicly traded companies could raise borrowing costs for homeowners and jeopardize the fragile housing market.
At the same time, Fannie and Freddie represent a major liability for taxpayers, who are on the hook for about $150 billion in federal aid the two institutions have received.
The issue has become politically charged, with some Republicans blaming Fannie and Freddie for contributing to the recent housing bubble. Democrats argue that the institutions help promote home ownership, especially among low- and middle-income Americans.
Given the political challenges involved and the threat to the housing market, any winding-down of Fannie and Freddie is likely to take place over a period of years.
A representative for Fannie Mae declined comment. Freddie Mac representatives did not immediately respond to a request for comment.
The three options in the administration's white paper were outlined in published reports Wednesday.
The most conservative of the three options would involve no government role in the mortgage market beyond existing federal agencies, such as the Federal Housing Administration, according to the Wall Street Journal.
The two other options relate to the government's place in the secondary mortgage market, previously filled by Fannie and Freddie. Under one option, the government would backstop mortgages during times of "market stress," while the other recommends that the government be involved at all times.
In addition, officials could also reduce the maximum loan limit for mortgages that Fannie and Freddie are allowed to buy, and encourage them to raise the fees they charge banks to guarantee mortgages.
Other options that could be discussed in the white paper are gradual increases in the minimum down payments on government-backed loans, and an accelerated reduction in Fannie and Freddie's loan portfolios.
-- CNN's senior White House correspondent Ed Henry contributed to this report.
Just read this on Yahoo Finance... How would this effect FMCC? Not quit sure if this is going to be good news or bad news?
UPDATE 1-Obama wants sharp drop in gov't-backed mortgages
Federal Home Loan Mortgage Corp
FMCC.OB
$0.73
-0.11-13.21%
3:00pm CST
Fri Feb 4, 2011 4:22pm EST
(Recasts, adds background)
Feb 4 (Reuters) - The Obama administration wants to sharply reduce the role of government-backed mortgages in the U.S. housing market, Treasury spokesman Steve Adamske said on Friday.
"We are looking at how to transition from a government having too big a footprint in the marketplace to one that has the private sector playing the dominant role" in the mortgage market, Adamske said.
Adamske's comments followed a report from CNBC that the administration's white paper on mortgage finance companies Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB), expected sometime next week, would include a proposal to reduce the role of government-backed mortgages below 50 percent.
Adamske declined to confirm that precise figure, which did have have a timeframe attached.
Fannie Mae and Freddie Mac, which are chartered by Congress, were seized by the government in September 2008.
More than 85 percent of all new residential mortgages, including home refinancings, were backed by the government in some form, according to Inside Mortgage Finance, an industry publication. CNBC cited that figure as 95 percent. (Additional reporting by Dave Clarke; Editing by Leslie Adler)
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Wow...what a last minute dump. Hedge Funds made some money on this. Wonder if it will continue to down turn or will it pick back up next week? Obviously major profit taking to bring it down so quickly. Can't blame them. Any thoughts what this might settle at before climbing back up?
True...average lower would be better. I think there will be time to see how this will play out. I just had a quick glimmer of hope getting my bad investment back by averaging down. I don't want to throw good money into bad.
Have a decision to make and perhaps someone can give some opinions. I bought into this several years ago at 6.15 (I know.....) and I was expecting to take the loss and move on. However, in light of some new potential developments with Ambac, I'm going to hang on for a while. I realize it's very doubtful it will hit this level again, but I have considered averaging down enough to bring my break-even to 1.04 (vs 6.15). I like everyone else don't like throwing money away, but if things fall into place with Ambac, does anyone see this going over a $1? If so, I'm willing to gamble a little more and try to break-even v.s. taking a hugh write-off. Thanks.
Corrupt judge it appears... just amazes me how this society has become so dishonest with politicians and judges. Of course, money has always talked....
Ok... Now tell us how you really feel :0
I considered selling, but I already have a big write-off. So I'm gambling this into next year.