thotdoc

Fannie Mae (FNM +1%) may need to write down the value of its $5.2B low-income housing tax credits after the Treasury vetoed its plan to sell them. "We are evaluating whether Treasury's decision changes our prior determination that we continue to have the intent and ability to sell or otherwise transfer" the credits, Fannie says in an 8-K this morning.

This stock is the market in a nut shell. The share price of this company is up. I want to scream at the top of my lungs: This is a bankrupt company, and the share price is up? Do ya' think that there is something wrong?