Fannie Mae Preferred S (FNMAS)

[NobodyFromNowhere]

I'm still waiting for the big thanks from Pfds on my Long Pfd / Short Common call that I made in May. After all the heat I've given Wayne and pfds, took some kahunas to change directions.

Honestly, I have no position in these companies anymore, and I don't think that I ever will again. If you do play the companies, I think pfd is the way to go. I really just think that the ginourmous potential liability that the companies books put on the US taxpayer will be the government's trump card that they will play either inside or outside of court. I just don't think a utility model or public/private partnership is possible given the size of the balance sheets and potential liabilities. I could yap for days, but I'll stop there.

I'll be watching as a pure spectator unless something happens where the stock crashes for what I consider to be an incorrect reason. Then, I might be a buyer during a dislocation. Like if the common hits $1 on news of a dismissal or new Warren Corker bill.