Wednesday, March 12, 2014
FNMAM Fannie Mae Daily Chart On Its Fannie
Fannie and Freddie, the GSE's, collapse over -30% on news that lawmakers plan to dismantle and phase-out the institutions. Exactly what will replace the mess and how the situation will be fixed remains a mystery. Congress and the president have had five years to address this troubled situation instead they play baby games daily. The GSE's are government-sponsored enterprises such as Fannie Mae and Freddie Mac created by Congress. The intent is to support the mortgage industry but the GSE's have grown out of control and had to be bailed out during the 2008-2009 financial crisis. The mess has festered over the last few years with dysfunctional Washington ignoring the 900-pound gorilla in the room, until today. A firm plan of action is expected in the days ahead. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.