Fannie Mae-No Politics (FNMA)

[imbellish]

1) anywhere from 5 to 250 depending on your probability model (either way asymmetric bet at anything under a dollar, but thanks to Bernanke and JPOW there is a lot more dollars now)

2) Keynes himself found railroad bond buyers insufferable for the same reasons I do. The bickering, the bullshit, prognostications and false expertise in one way or another makes it hard to price and hold.