We’ll everyone’s been waiting, here’s the official scoop:
Both CEO’s are out!
Shareholders are screwed.
And both FNM & FRE will be forced to be downsized, until they no longer represent a threat to the U.S. financial system.
http://treasury.gov/press/releases/hp1129.htm
http://www.federalreserve.gov/newsevents/press/bcreg/20080907a.htm
We will see Monday if the market reactions matched expectations…
From James Cramer and The Street.com
http://www.thestreet.com/story/10436141/1/weekend-reading-fannie-freddie-bailout.html?puc=googlefi&cm_ven=GOOGLEFI&cm_cat=FREE&cm_ite=NA
http://www.thestreet.com/story/10436132/1/cramer-fannie-freddie-takeover-changes-the-game.html?puc=googlen&cm_ven=GOOGLEN&cm_cat=FREE&cm_ite=NA
From NPR:
http://www.npr.org/templates/story/story.php?storyId=94365281
Weekend Edition Sunday, September 7, 2008 · [...]