George Will's article was 100% true. The value of the shares DID drop after the 3rd amendment.... The preferred shares
It is rather hilarious that JC and one of the posters on here have the same mantra about the 3rd amendment and the common shares. What is funny is that the preferred shares were the ones that tanked. Shares I own(and still own) a significant portion of shares in FNF preferreds. The value is in the fact that the companies were in conservatorship, not receivership. The value is that the companies are supposed to be rehabilitated. That when I bought in Dec., 2009 there was a deal. That deal was "changed".... Folks point to white papers and such but the deal never changed. Until 8-17-2012
Every lawyer I have spoken to has said it was illegal. Every one.
On Aug 10th, FMCCT was 3.99. I bought 30k shares of FMCCT on 8-17-12 for 1.15 in anger at the 5th amendment taking.
It is entirely plausible that Freddie could be released while Fannie stays in shareholder prison. You heard that first here! ( big yank Freddie mac board )
I have owed FNMAS since 2/2009 I bought at $1.37 a share. I was at over $12 a share and woke up in 8/2012 to $4 a share, it tanked overnight because of the third amendment. GO FNMA!!
News 
Market Data 
Discover 
