Buffett's Thoughts on Fannie (FNM), Freddie (FRE)

On this morning's Squawk Box, host Becky Quick talked with legendary investor, Warren Buffett. When asked about the likely outcomes for Freddie Mac (NYSE: FRE) and Fannie Mae (NYSE: FNM), Buffett had several interest insights:

• he believes Freddie and Fannie will survive, but sees their shareholders taking huge losses
  
• he called the stocks virtually worthless
  
• at current levels, private investment is not enough to save Fannie and Freddie, and
  
• OFHEO has blamed everyone except itself.

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