both stocks will be down 50% in the morning. Neither can raise cash anymore via bond financing. 20 year Tripe A rated FRE failed yesterday. That's the first time FRE or FNM ever had a bond issue fail. at least recently they were getting BBB yields. Only other option is secondary pulic offerings galore. Bill Poole came out late today saying they are insolvent, even under phoney accounting rules. Only US Govt bailout can prevent bankruptcy. Maybe Ben & Hank will explain tomorrow infront of senate banking committee: the emergency need for nationalization of FRE FMN Black Thursday!