As a little guy worried about making a little money investing in these stocks right now, I would say no. However if you want to invest in stocks in the US in general this is an awesome time to get in if you can stay in the market for the next 3-5 years. Stocks as a whole are cheap in the US market right now, so if you buy an index fund that tracks the entire US market and wait for the US to recover from this depression you could do really good. I recommend the S&P 1500 index fund from ishares (ISI)
As for Fanny Mae & Freddie Mac yes the Feds will bail them out, but do you really want to think about what would happen to the price of your house if the fed didn't and every 5th house on your street was empty? You'd have a $300,000 mortgage on a $40,000 house. How responsible would you feel when that happens knowing you could just walk away and out of $260,000 worth of debt or so?
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