Fannie & Freddie...Wow!

Fannie Mae and Freddie Mac lead the markets down mid-day after analysts noted that a proposed FASB rule change could require them to raise an additional $75 billion in capital. I view this as highly unlikely given that the US government cannot allow these quasi-government agencies to go under. Both agencies are essentially guaranteed by the government yet have find themselves down over 75% year over year. All I can say is...wow!

Fannie Mae (FNM): $15.74 -3.04 (16.19%)
Year Performance: (76.33%)

Freddie Mac (FRE): $11.99 -2.51 (17.31%)
Year Performance: (80.43%)