Fannie and Freddie Rally As Vote to End Them is Postponed
Fannie and Freddie Rally As Vote to End Them is Postponed BY Dan Freed | 04/29/14 - 10:38 AM EDT NEW YORK ( TheStreet ) -- Fannie Mac ( FNMA _ ) and Freddie Mac ( FMCC _ ) shares were higher in early trading Tuesday following a delay in a vote on a bill from Sens. Tim Johnson (D., SC) and Mike Crapo (R., Idaho) to wind down the government sponsored entities (GSEs). "There continue to be important discussions to build a larger coalition supporting the bill. While we have the votes to report the bill out today, Members of the Committee have asked for a brief delay to try to work out additional issues prior to a final vote," read a statement from Johnson, Chairman of the Senate Banking Committee. Fannie Mae shares were higher by 2.37% to $3.89 in mid-morning trading while shares of Freddie Mac were up by 2.06% to $3.96. Shares of the mortgage finance giants were up by more than 6% and 4% respectively shortly after the st...