The Five Dumbest Things on Wall Street This Week: June 18
Farewell, Fannie and Freddie
Make way everybody! The trillion-dollar gorillas are leaving the room.
The Federal Housing Finance Agency said Wednesday that Fannie Mae (FNM) and Freddie Mac (FRE) will delist their shares, now trading for well under a $1, from the New York Stock Exchange (NYX). The FHA, which regulates the two government-sponsored mortgage purchasers, said it expects Fannie and Freddie to trade on the Over-the-Counter Bulletin Board, an electronic quotation service, beginning next month.
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