ANALYST VIEW: What analysts think of Fannie, Freddie bailout

(Reuters) - The U.S. government finally seized control of Freddie Mac and Fannie Mae on Sunday in efforts to calm the economy hit by over a year long credit and housing crisis.

As part of the plan, the Treasury is taking an equity stake in the companies, will purchase mortgage-backed securities that the mortgage giants issue and also extend a credit line to them.

Government's action is not only expected to stabilize the mortgage markets, but also have major implications for global markets and the nation's banks.

Here is a summary of comments from research issued from major brokerages since the announcement:

* LADENBURG THALMANN'S RICHARD BOVE

"Fannie and Freddie are gone and this is a good thing. They were mismanaged messes with accounting frauds that equaled those of Enron and WorldCom. They were blights on the U.S. government's capital raising ability. Their passing should allow a new system that is less threatening to emerge."

"The single largest beneficiary of these events is clearly Bank of America. This company's acquisition of Countrywide Financial will now appear to have been a stroke of brilliance."

"The nation's housing program loses. It took 71 years to build and perfect and three years to destroy what was built."

* FRIEDMAN BILLINGS RAMSEY'S PAUL MILLER JR  Continued...