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APR 03, 2013 - TheStreet

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Wall Street Journal Misses Fannie Preferred Point

NEW YORK (TheStreet) -- The government is going to make a lot of money on its investments in Fannie Mae and Freddie Mac and junior preferred shareholders may eventually get in on the gravy. In a Heard on the Street article Wednesday, the Wall Street Journal rightly said, "there is no plan, or mechanism, in place" for the company to repurchase $117.1 billion in preferred shares held by the government. But the Journal misses the point that investors in junior preferred shares of Fannie and Freddie may be see a huge payoff over the long term. Fannie Mae on Tuesday reported record profits ... Read More

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