Freddie Mac-No Politics (FMCC)

[El Mago]

Good news starts !!!!! good post Drluck thanks !!!

S&P RAISES RECOMMENDATION ON SHARES OF FANNIE MAE TO HOLD FROM SELL (FNM; 0.75):

While we expect any future capital injections by the Treasury Department will be highly dilutive to current shareholders, we do not see the Treasury needing to inject additional capital into FNM through the rest of 2008, and we believe this lack of action could be viewed positively by investors. As of the end of the second quarter, FNM had $47.0 billion in core capital. Also, we think the shares could appreciate from historically low levels if we see any stabilization in the housing market. We are raising our target price from $0.50 to $1, or less than 0.1 times book value. -K. Cole-CFA