Fannie and Freddie Stock Delisted from N Y S E
June 17th, 2010
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Yikes--this is a sign of the times to behold:
Quasi-governmental mortgage finance giants Fannie Mae and Freddie Mac have voluntarily delisted their stock from the New York Stock Exchange after their values fell to less than $1.
The other option was to present a plan to bring share value back above $1, but the federal regulator in charge of the firms opted against that because, according to a notice from Federal Housing Finance Agency, the government couldn’t be sure of success.
"A voluntary delisting at this time simply makes sense and fits with the goal of a conservatorship to preserve and conserve assets," said Edward DeMarco, the agency's acting director.
Source: The Wall Street Journal, Nick Timiraos (06/17/2010)
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