WASHINGTON (Reuters) - Fannie Mae and Freddie Mac shareholders, including preferred stockholders, will not fair well under a proposed U.S. Treasury takeover of the two housing finance companies, House Financial Services Committee Chairman Barney Frank told Reuters on Saturday.
"I think all shareholders will be disadvantaged," Frank said in a Reuters interview when asked if holders of preferred stock of the government sponsored enterprises could also be wiped out along with common stockholders under the Treasury plan.
http://www.reuters.com/article/ousiv/idUSWBT00965020080906Forget Palin, the U.S. economy is entering some scary whitewater rapids Monday. It's difficult to say what condition we'll be in come November's election.
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