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FMCKK - Fannie Freddie Preferreds Offer Value After Ruling
Freddie Mac 5.00% Pfd
Last Friday's federal appeals court ruling in favor of stockholders in the mortgage giants legal case produced gains on Monday of over 40% in Fannie Mae (OTCQB:FNMA) and 30% in Freddie Mac (OTCQB:FMCC).
The various preferred issues of the two agencies also rose, but not as much.
Seeking Alpha's resident GSE expert Glen Bradford explained the ruling here, much better than I could. His basic conclusion was that the government has little choice but to settle with the preferred shareholders quickly, to allow it to execute its recapitalization plan before