Freddie Mac shares fall nearly 10 percent to lowest level since 1991

[southern_belle]

Source: Reuters

Battered mortgage giants Fannie Mae and Freddie Mac took yet another hit at the start of trading Wednesday.

The stock for Fannie (FNM, Fortune 500) dropped 16% and Freddie (FRE, Fortune 500) tumbled 18% as the markets opened.

This was in addition to steep declines of more than 20% so far this week. So far this year, Fannie and Freddie shares have each plunged more than 80%.


Read more: http://www.reuters.com/

---

I found more information at http://money.cnn.com/2008/08/20/news/companies/fannie_freddie/index.htm

[slackmaster]

1. This brings to mind an important question

What's the "buy" point for these stocks?

[rusty_parts2001]

2. Most analysts believe they are going to zero

[SmartPat]

3. The bandits are loosing money

These guys have been robbing the public for years. Let the cards fall where there may.