Fannie Mae (FNMA)

[Steelhead9]

Calabria has said many things, mostly bad for GSE investors. Stop cherry picking what you want to believe and what you want to ignore. You have to consider it all.

THIS is where I feel that you could be right. Mnuchin has been suspiciously cagey with his words, Calabria has been all over the place with his statements and proposed capital ratios. I am not secure in the belief that these guys mean us well. They could be the equivalent of the Donner family inviting us over, "for dinner". If these guys are plotting our demise, you are right, and you win a small premium for having been cautious.

If however we get set free, commons need to score larger than preferred on PPS appreciation. That is the natural order of things.