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To: NOW who wrote (75836)3/9/2008 9:48:57 PM
From: KyrosL  Read Replies (2) | Respond to of 116555
 
All the reports I have read said agencies and Treasuries are what the Fed accepts as collateral.

FNM and FRE stock (common and preferred) is not part of the government guarantee. The government and a number of politicians have made that quite clear. It's only agency bonds the government implicitly (and now the Fed explicitly but temporarily) guarantees. I believe that if FNM and FRE become insolvent, the government will not rescue the stockholders.