Freddie and Fannie, which serve a government mission to support housing, were put in a conservatorship that allows their stock to keep trading but puts common shareholders last in line in any claims.
With bond holders likely to be long-term beneficiaries of the take-over.
I thought the same thing when Worldcom went to 18 cents. They still had a large customer base and huge government contracts. The stockholders got zip.
I thought the same thing when Value Jet crashed in the everglades and the stock plummeted. They were both insured and very cash rich at the time. Who knew they would become the FAA whipping boys for poor and fraudulent maintenance and were shipping explosive air cannisters without emptying them?
This stock will be worth zip. The private mortgage business has been nationalized just the same as when the Venezuelan government took over oil production.
This is part of the US move toward a free market economy and less government intervention in business.
Both stocks fell below $1 yesterday with the top five Fannie and Freddie shareholders together losing $2.3 billion. These include some mutual funds and hedge funds that were betting on the govt. to rescue stockholders , they were wrong and lost their collective asses............
Well, no one has truly lost money until they sell the stock. If you buy a stock at $10 and it goes down to $1 and then back to $10. You didn't make money and you didn't lose money.
However if a stock goes from $4 to $1 and you can pick it up for $1 and it goes to $2 you double your money and they lose half of their money.
Well, no one has truly lost money until they sell the stock. If you buy a stock at $10 and it goes down to $1 and then back to $10. You didn't make money and you didn't lose money.
However if a stock goes from $4 to $1 and you can pick it up for $1 and it goes to $2 you double your money and they lose half of their money.
Even defunct stock may have some minimal value if they have tax losses that can be carried forward to a buying firm or if someone wants to buy the corporate shell to get the stock listing without the hassel of going through the FEC approval process.
Well, no one has truly lost money until they sell the stock. If you buy a stock at $10 and it goes down to $1 and then back to $10. You didn't make money and you didn't lose money.
However if a stock goes from $4 to $1 and you can pick it up for $1 and it goes to $2 you double your money and they lose half of their money.
The reason I said that is I always hear my friend whining about how much money he has lost on his house, but he hasn't sold it. I have asked him if he plans to sell it anytime soon and he says no. I keep trying to tell him he really hasn't lost anything if he isn't planning on selling it, but he just doesn't understand.
Did you see the severance packages those cocksucking CEO's got? What the fuck is wrong with this country? They should be sitting in jail for mismanagement instead of getting a paid lifetime vacation.
Did you see the severance packages those cocksucking CEO's got? What the fuck is wrong with this country? They should be sitting in jail for mismanagement instead of getting a paid lifetime vacation.
I mentioned it before and wish I could find what article it was again, but there was a mag (maybe Forbes?) that had a comparo of best vs worst performing CEO's. The worst performing CEO's did basically jack shit, companies almost in ruins etc, yet were paid insane salaries and bonuses or severance packages. The CEO's that were the best performing for the most part had salaries a fraction of the worst performing guys and some had companies of similar size, yet they continue to improve business year after year etc. We have a f'd up country
I maybe the bad guy here but I bought some of it yesterday. Hell I'm going to take a shoot at it. Hell you only loose money on paper correct...that is until you sell!
