Great read.
I heard that Wachovia is loaded up with shares and will be in some real trouble next week.
I’ve never look at who owns what with these guys but I bet we start hearing of major losses and bank failures, which will lead to bank bailouts.
Wachovia may hold FNM shares, but at the same time they are one of the ones who will benefit the most from this action, since they have tremendous exposure to the mortgage industry (remember they bought Countrywide) and stand to gain much of the mortgage business that FNM now controls.