Your Government Delisted – Dan Mangru WND (WorldNetDaily) Exclusive Commentary June 21, 2010Posted by Admin in Dan Mangru, Market Commentary.
Tags: bailouts, dan mangru, fannie mae, FDIC, Freddie Mac, mangru, mortgages, NYSE, regulation, report, sec, stock market, trillion, wnd, worldnetdaily
By Dan Mangru
Whenever I walk into a bank, there is a big sign from the FDIC that says, “Backed by the full faith and credit of the United States government.” It makes us feel warm and fuzzy when we walk into a bank with 1,000 branches and give our hard-earned money to a bank teller we don’t know.
But just how is that full faith and credit of the United States doing these days?
Well, if you ask the New York Stock Exchange, the full faith and credit of the United States government isn’t good enough to keep you trading.
It was announced recently that both Fannie Mae and Freddie Mac have agreed to be delisted from the New York Stock Exchange.
Even though the federal government has poured $145 billion of your hard-earned tax dollars (that we know of), the markets still have rejected both government entities as not being sound investments.
That’s why shares of Fannie Mae and Freddie Mac have been trading for less than $1 for quite some time and no longer meet the requirements of listing for any major exchange, leading to their rejection.
(Editor’s Note: For the full article CLICK HERE NOW).