FRE and Me

People laughed or cringed or bit their tongues when I bought Freddie Mac at $.40/share. I bought it because I couldn’t imagine a world where the federal government wouldn’t try to nurse the broken, ill-conceived, compromised agency back to “health.”

Nursing Freddie Mac back to health may well include dumping all of those bad loans onto the books of U.S. taxpayers and changing nothing about Freddie’s murky relationship with the feds.

Freddie Mac closed Friday at $2.40/share.