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To: Giordano Bruno who wrote (373803)	9/7/2008 4:43:01 PM
From: Cynic 2005	Read Replies (1) \| Respond to of 436258

FDIC news release: "Hello banks, if you own FRE and FNM shares, we won't count your losses." I first thought that the financials will stage one heck of a rally on Monday. Now I am not so convinced. If I am long any financial stock, I will get the hell out on any rally. -------------------------------------- fdic.gov For Immediate Release September 7, 2008 The Federal Banking Agencies React to Takeover of Fannie Mae and Freddie Mac The federal banking agencies have been assessing the exposures of banks and thrifts to Fannie Mae and Freddie Mac. The agencies believe that, while many institutions hold common or preferred shares of these two government-sponsored enterprises, a limited number of smaller institutions have holdings that are significant compared to their capital. The Federal Reserve Board, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision are prepared to work with these institutions to develop capital-restoration plans pursuant to the capital regulations and the prompt corrective action provisions of the Federal Deposit Insurance Corporation Improvement Act. All institutions are reminded that investments in preferred stock and common stock with readily determinable fair value should be reported as available-for-sale equity security holdings, and that any net unrealized losses on these securities are deducted from regulatory capital.

To: Giordano Bruno who wrote (373803)	9/7/2008 4:52:53 PM
From: Box-By-The-Riviera™	Read Replies (1) \| Respond to of 436258

NEW YORK, Sept 7 (Reuters) - Standard & Poor's said on Sunday the U.S. top triple-A rating and stable outlook are not affected by the government's decision to take over mortgage finance giants Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz). The rating agency said in a statement: "In our view, the U.S. government's credit quality continues to be upheld by its high-income, highly diversified, and exceptionally flexible economy, relative to those of other 'AAA' rated sovereigns, together with the U.S. public sector's fiscal flexibility and the unique advantages coming from the dollar's preeminent place among currencies." (Reporting by Richard Leong; Editing by Neil Stempleman) ............and there are enough citizens left who will be buttfucked and foot the bill at the same time. once they have been killed off, we may have to revise our ratings. sincerely yours your trusted raters of CDO's and other junk paper.