Fannie Mae Preferred S (FNMAS)

[Zargis]

I also have a 'feeling' that the warrants will get cancelled and we will end up with much higher pps on all sides than anyone is expecting.

Also, that soon these GSEs will be much more profitable as housing rebounds since many of their issues and cost wasting has been fixed.

However, while optimistic - there is the reality that the warrants could potentially be exercised. However, if that was to happen I wonder if there would be more legal suits that have not started due to a lack of damages.

No matter what, I believe these entities are still a large profit margin regardless of what happens - and it is getting close. So close that we can almost see the massive tidal wave forming in the distance.

Be well,

-zargis