Now that AIG and the FHLB system are profitable again, what about Fannie Mae and Freddie Mac? What about all the loan buybacks - and putback settlements they've been negotiating with seller/servicers the likes of GMAC/ResCap? Shouldn't this be adding up to something? In a few weeks both Fannie and Freddie will release earnings and it stands to reason they must be making money on their new books of business. It's their darn 'legacy' assets that keep dragging them down. Where's David O. Maxwell when you need him? Meanwhile, according to one press report, Fannie Mae has become the nation's hottest penny stock with 15 million shares trading hands on Monday alone, more than double the number of Goldman Sachs shares trading that day...
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