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Take A Load Off, Fannie

Fannie Mae, a government chartered corporation created to foster lending in the mortgage market, was up mysteriously Friday while the rest of the financials suffered. What's behind this move?

Pete Najarian believes the pop hinges on a statement from Hank Paulson. In it Paulson reveals that he’s talking with Fannie Mae (FNM) and Freddie Mac (FRE) about the issues they face and how the economy can get running again. Pete says he’s a buyer on the news.

Karen Finerman adds that she thinks these are good times for Fannie Mae and Freddie Mac because “they can buy paper at a decent spread.” However she doesn’t recommending buying these stocks, yet.

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Trader disclosure: On Sept. 7, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (BJS), (BQI); Najarian Is Short (GS); Finerman Owns (GS); Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns (AA), (KFT),(NTO), (WMT) Finerman's Firm Owns S&P 500 Puts ; Finerman's Firm Owns Russell 2000 Puts ; Finerman's Firm And Finerman Own (HD)