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Fly News Breaks for January 8, 2020
Jan 8, 2020 | 08:07 EDT
Odeon Capital analyst Richard Bove noted that it is expected that the Supreme Court will decide within the next week if it wishes to review the "Fannie Mae cases," noting that the government-sponsored enterprise, or GSE, stocks - Fannie Mae (FNMA) and Freddie Mac (FMCC) - are expected to rally if the top court chooses to review the cases and that the stock are likely to drop if the Court decides not to review them. If the Supreme Court decides to look at these cases, it is hoped that it will find that "the so-called net worth sweep" is invalid, which would allow the government to negotiate with shareholders and make some payment on their shares likely, Bove said.
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