For Freddie Mac 68 cents goes a long way

Yesterday was another roller coaster ride for Freddie Mac shareholders.

Shares of the troubled GSE traded up 68 cents in regular trading yesterday (and added another 50 cents this morning).  For today’s Freddie Mac, 68 cents is massive, representing an increase of over 20 percent in one day. 

One month ago, 68 cents may have turned a few heads but one year ago this wouldn’t merit a cursory glance.

What a difference a year makes.

BTW Freddie Mac’s CEO Richard Syron, who has been accused of brushing off warnings about the firm’s risky loan portfolio, recently told the New York Times, ”If I had better foresight, maybe I could have improved things a little bit…but frankly, if I had perfect foresight, I would never have taken this job in the first place.”