Monday, August 09, 2010

FNM and FRE Demoted to OTCBB

After months of trading on the NYSE has penny stocks, FNM and FRE begin trading on the OTCBB.  In addition to their demotion to the OTCBB, Freddie Mac is seeking an additional 1.8 billion in bailout funds whil Fannie Mae issued a 1.2 billion net loss.  With losses mounting the American tax payer remains on the hook for the losses.

FNM now trades on the OTCBB as FNMA, and FRE now trades as FMCC.

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