Fannie Mae, Freddie Mac shares plummet - Forbes.com: "The Barron's report said the government is likely to buy preferred stock in the companies, wiping out common shareholders. Paulson has declined to comment on whether a rescue is imminent"
Nortons comment: I dont think promises of a govt bailout can convince the market so the reality of tax payer money being used to cover this is more likely now. Where is the intelligence from our congressional representatives. No willpower in the face of an administration that has easily usurped the power for the legislative body in the name of patriotism and avoiding panic for their lack on discipline in regulating the market appropriately.
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