Fannie Mae-No Politics (FNMA)

[Donotunderstand]

Ruud

Not arguing but that is based on the current value of assets on the books

Rip Roaring Inflation and a rocket in interest rates and all of that math - valuation - goes away

Just saying

Preferred offer a LOT more potential for some money if 11 or liquidation but one can not say they will be paid ...paid before common is the way the prospectus reads and past 11 cases have enshrined - but paid ? not any sort of such guarantee ... if say bonds get 99 cents on the dollar as assets at FNMA go down in market value fast and furious