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LOS ANGELES: Money from speculators poured into shares of Fannie Mae and Freddie Mac on Monday, the first day of trading after the Obama administration in effect gave the mortgage giants blank cheques of federal support.
But exactly how the United States government's move will pay off for their shareholders ought to puzzle most investors.
The stock market's reaction mystified banking analyst Bert Ely. 'They're not going to get anything back,' he said of investors who have long-term faith in the two companies' shares.
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