Freddie Mac and Fannie Mae are in crash mode, so Citi analyst Bradley Ball puts out a research note today to tell us that he spoke to Freddie Mac management who told him that "...they remain on track to gain SEC registration soon and pursue their $5.5 billion commitment to raise new capital (half common and half straight preferred) at an opportune time."
Bradley,
"Opportune time"?
Do you actually believe this stuff you write?
Last year, might have been an opportune time (the stock was 80% higher), Wednesday would have been an opportune time (before the stock dropped 22% Thursday and down another 48% today). The opportune times for Freddie are over, these are desperate times, my friend.
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