Is there any hope for the small share holder of Fannie or Freddie stock?
Alas, no.
The best response here is as much humor as you can bear. Gilbert & Sullivan come to mind and "I've Got a Little List" from the Mikado. In financial America, today, there are many who "won't be missed."
http://www.cs.rice.edu/~ssiyer/minstrels/poems/135.html
Scott