Analysts question surge in shares of Fannie, Freddie

08/25/2009 | Washington Post (tiered subscription model), The

Shares of Fannie Mae soared 41.7% on Monday, while Freddie Mac shares advanced 18.5%. Nearly a fifth of the day's trading on the New York Stock Exchange involved shares of the mortgages giants, which analysts said have a real value of zero. "It's very hard to come up with scenarios where they're worth any money," said Bose George, an analyst at Keefe, Bruyette & Woods. "There's a tremendous amount of sentiment trading in general."

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