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Monday, March 25, 2024 3:26:56 PM
A Reward From the Court
Have you looked at the share prices of Fannie Mae and Freddie Mac
of late? At press time Monday, Fannie common was trading for $1.89,
a few pennies below its yearly high. Its low: 39 cents. Freddie’s common
has similar metrics. Both of these mortgage giants — wildly profitable
since 2012 — are wards of the federal government, having been declared
insolvent back during the housing/subprime bust of 2008…
And in case you missed it, the District Court for the District of Columbia
mid-month ruled the Federal Housing Finance Agency had
" acted inappropriately when it installed a post-conservatorship
“net worth sweep,”
awarding Fannie/Freddie shareholders $612 million in damages. For a while,
billions of dollars in cash went into the coffers of the Treasury Department,
not the two companies…
![Bullish](/static/images/ih2-bull.png)
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