FHFA Acting Director Edward J. DeMarco orders both Fannie Mae & Freddie Mac agencies to de-list from the NYSE and all other Security exchange boards to conserve and preserve assets.
http://www.dsnews.com/articles/fhfa-orders-fannie-freddie-to-delist-stock-from-nyse-2010-06-16
This is good, I believe taking these companies off of public trading will benefit both of these agencies. Now instead of trying to please share holders, they're able to focus on what the agency was originally meant to do. Service the people, not shareholders.
The stocks have been hovering around $1 for the past few months, NYSE rules state that any stocks below that mark must de-list anyway. Either way this was going to happen, but it's good to see that FHFA jumped the gun.
This is another example of the Federal government stepping in and putting restrictions on 'loosley' regulated agencies. This is also happening in the midst of the oil spill and overhauling of the Minerals Management Service.
Feds getting involved in big business, I may have some concerns. These examples are for the better, but what happens when the Feds take the next step when there's no crisis? Where does socialism begin and free market end?
Anyone have any thoughts?
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