Fannie Mae Preferred S (FNMAS)

[big-yank]

For sure. I do find it interesting to note the swings in information flow which had been driven largely by the hedge funds, th717 and Investors Unite who seem to have largely dried up, and the new info age of blogs, Street journalists and even the real Tim Howard now stepping with commentary and proposals. While it seems to have gone largely unnoticed, it is interesting to note that Tim Pagliara in his latest suits filed clearly states his actions are on behalf of himself and NOT Investors Unite. There is some wagon-circling going on, especially in the Delaware matters where I am sensing a clear divide between the varying, and now possibly competing litigants.

The longer the hiatus before any real decison is announced, and the longer that the legal slog continues, the more convinced I become that preferred shares are the safer place to be positioned. The big promise of commons having voting power in any proxied reorganization shareholder vote gets clouded by the warrants and the fact that unless the warrants get cancelled by court ruling... a very unlikely action... the government controls any such vote by simple plurality.

There is a reason why all the hedge funds but Ackman largely or exclusively hold pfd shares.

JMHO.