Freddie and Fannie Stocks

With Fannie Mae and Freddie Mac officially becoming government owned this weekend, business on wall street is booming.

Stocks rallied after the government took control and announced a plan designed to stabilize the housing market. Struggling homeowners should get some help in the form of more affordable mortgages and easier loan access.

Taxpayers will pay a price though... The bailout is costing billions of dollars. Freddie and Fannie stockholders are expected to be wiped out completely.