Fannie Mae-No Politics (FNMA)

[Donotunderstand]

that is an argument

but as NON cumulative preferred stock there is no apparent reason for the GOV to pay dividends in arrears

seriously

with F and F sucked dry - where would such money come from ?

they (GOV - be it executive or legislative) will not use general funds and F and F do not have the money to pay it (and it would defeat the idea of conservatorship)

yes - if one believes that A is > L after all debt obligations and then A is > L by only 90% of the face of preferred - buying preferred is genius if there is a receivership or dismantling of a normative fair fashion

other than that (to include a receivership where A is > L to the point that common gets paid 25 a share) we will agree to disagree

ALTHOUGH I OWN 65% COMMON AND 35% PREFERRED JUST CAUSE