
Kass Nailed FNM, FRE Months Ago!
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This blog post originally appeared on
RealMoney Silver
on July 10
.
Insolvency at FNM, FRE
8:35 a.m. EDT.
I was quite direct on Sir Larry Kudlow's show last night.
One of the bolder things I
was that
Fannie Mae
(FNM)
and
Freddie Mac
(FRE)
are "technically insolvent."
Apparently, former St. Louis
Federal Reserve
President William Poole
with me.
Doug Kass writes daily for
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At the time of publication, Kass and/or his funds were short Fannie Mae and Freddie Mac, although holdings can change at any time.
Doug Kass is founder and president of Seabreeze Partners Management, Inc., and the general partner and investment manager of Seabreeze Partners Short LP and Seabreeze Partners Short Offshore Fund, Ltd.