Fannie Mae Shares Tank; Common Shares Could Be Wiped Out

Fannie Mae / Federal National Mortgage Association (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) shares surged to five-year high last week, despite uncertainties surrounding the proposed bipartisan bill, reports Bloomberg.

Kathleen M. Howley & Jody Shenn of Bloomberg feel the new bipartisan bill currently under preparation might push the company into liquidation and make the shares of the state-owned mortgage giants worthless.

U.S. senators are giving final touches...