Would buying Fannie Mae or Freddie Mac stock be a good idea now?

Well said andrea06. I couldn't have said it better. I agree with her 100%. Absolutley do not under any cirstance buy this stock. There are other stocks that provide so much more value than these. Look for new leaders in new leading sectors that aren't trading at their highs. The financials will eventually be a good buy, but now is too risky. More banks will be going down.