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Fannie and Freddie Preferred Shares Left Behind in Rally

The Street, By Dan Freed

Fannie Mae (FNMA) and Freddie Mac (FMCC) preferred shares have largely sat out the recent rebound in common stock of the government sponsored enterprises (GSEs), but some observers believe the market has it wrong.

Both preferred and common Fannie and Freddie shares took a beating Oct. 1, the first trading day after U.S. District Court Judge Royce Lamberth threw out several shareholder lawsuits against the U.S. government.

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