Fannie Mae Preferred S (FNMAS)

[rosen62]

Well... I think this will make many here happy.

The proposal (refers to C-W bill) is one of a handful that could be issued in the coming weeks. Sen. Jack Reed (D., R.I.) is said to be working on a separate bill that would create a similar framework but with one key difference: It would restructure—but not eliminate—Fannie and Freddie and use the refashioned companies, stripped of their federal charters and investment portfolios, to issue government-guaranteed securities.

It isn't clear when Mr. Reed will introduce the bill, which reflects an earlier proposal advanced by Jim Millstein, the former Treasury official who oversaw the restructuring of American International Group Inc., AIG -1.22% according to people familiar with the draft. A spokesman for Mr. Reed didn't respond to press inquiries.

http://online.wsj.com/article/SB10001424127887324021104578549682228860970.html