Word: maes
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...voice from Mae Sot had not been heard in Burma for eight long years. It was unmistakably that of U Nu, the ascetic, still popular ex-Premier who was ousted in 1962 by General Ne Win, the Burmese army strongman, and imprisoned in a military "rest camp" near Rangoon for the next four years. For the past 18 months, U Nu has been plotting his comeback. "I cannot tell you exactly at what time and in what month we will celebrate victory," he said in his broadcast. Less inclined to generalize, his lieutenants flatly predict "final victory" some time...
...Fannie Mae leads two lives...
...Washington headquarters, Fannie Mae-whose real name is the Federal National Mortgage Association -operates with the opulent dignity of a well-heeled bank. Its job is to provide mortgage money for Government-backed housing loans when funds are hard to get from private lenders. This year the association will finance about a quarter of the nation's new housing...
...Wall Street, Fannie Mae is a volatile stock that has suddenly become enormously popular. Logically, a Government-sponsored enterprise ought to be about the last source of frenzied speculation. Yet in the three months since Fannie Mae common began trading on the New York Stock Exchange, more than four-fifths of its 8,600,000 shares have changed hands. Last week it was the most actively traded issue on the Big Board. Its price has gyrated sharply since the initial listing at $46.75 a share; it closed last week...
...Margin. Speculators have been intrigued largely because Fannie Mae's quasi-governmental status exempts it from all the regulations of the Securities and Exchange Commission. Alone among the 1,325 common issues on the Big Board, Fannie Mae shares can be bought with only a 20% down payment, compared with the usual 65% margin for other stocks...