Fannie Mae-No Politics (FNMA)

[kthomp19]

Excellent response, couldn't have said it better myself.

I wouldn't rule out the Fannie prefs, though. Especially the lower dividend ones like FNMAL and FNMAN. I saw an interesting video posted over on the Google board. Start at 35:42 for the FnF stuff. This guy recently sold most of his commons to buy prefs, and he says that he bought FNMAM, FNMAL, and FNMAN in order to maximize his par value because he believes there will be a conversion to common at par. I think I would buy FNMAL at $22.90 before I'd buy FMCCT at $24.00, for example.