Thursday, July 10, 2008

FNM and FRE in free fall

At the opening bell, FNM is at $12.95 (down $2.36 or 15.41%) and FRE is at $8.03 (down 2.23 or 21.73%). I think people are finally starting to realize that yeah they really COULD fail. Woe are we if that happens.

Edited...

As of 10:19, FNM is at $12.61 and FRE is at $7.30. UBS AG analysts led by Eric Wasserstrom in New York increased their estimates for losses at Freddie Mac and cut their price target for the stock to $10 from $28. WTF? Why do these guys have jobs?

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