Fannie Mae & Freddie Mack Delisted from NYSE; Headed to Pink Sheets OTC Exchange | Steadfast Finances

Fannie & Freddie ‘Too Big To Fail’ but ‘Too Cheap to Stay Listed’

Filed in Politics , Public Awareness , Real Estate 0 comments

How’s this for an ironic sign of the times:

Fannie Mae and Freddie Mac the largest U.S. home funding companies, will delist their shares on the New York Stock Exchange after failing to meet minimum trading price requirements, the companies’ regulator said on Wednesday.  — from Reuters on 2010/06/16

You know things are screwed up when hundreds of billions of taxpayer bailout dollars have been invested to save two destined to fail organizations, and yet, Fannie Mae and Freddie Mack are too crappy of an investment to be allowed to trade on the New York Stock Exchange.

I suppose this is what happens when Finreg is an useless as the Maginot Line, politicians suck on the lobbyist teet to secure re-election campaign funds, and more Americans cast a vote for American Idol contestants than the President of the United States.

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Posted by Corey   @   16 June 2010 0 comments
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