Fannie Mae-No Politics (FNMA)

[Commons_Cancelled]

Indeed. But they dream a little higher up on the capital structure. Air is thinner up there, can breathe easier.

Commons are at the bottom of the bottom, possibly underground at this point. It's hard to sleep lying six feet under.

But there is hope! As long as Berkowitz keeps the fight alive, then we may still be able to get those pesky Sr. Preferreds cancelled. If not, then the only GSEs I see are ones with entirely new shareholders (ie: not current Common or Preferred holders).