Fannie Fades, and the Market Shrugs? By Jim Cramer About this article: Seems random to me. The whole market seems random. You have two large-cap stocks, Fannie Mae and Freddie Mac , literally disappearing before our eyes. These aren't Bear Stearns, forced merged into another entity. These are not MBIA and Ambac , wherever the heck those private insurers are going. They are not PMI and MGIC Investment -- the latter pretty much destroyed today by the ratings downgrade, and therefore useless to Fannie and Freddie as guarantors. These were important companies but not one-one-hundredth as important as Fannie Mae. Make it one-thousandth. Fannie and Freddie are core holdings of the nation not just mutual funds. The idea that they could be operating as cabinet positions or in receivership is just incredible. These are serious holdings for serious people, and I can't recall a government takeover of a company like what's coming here. Ever.... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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