Freddie Mac-No Politics (FMCC)

[Latergater]

“Would not touch prfds in light of these latest development” - the latest developments are huge for pfds. They will get par and once converted to common, as previously mentioned in the treasury plan, they will ride the commons to even higher value.

Buying pfds right now is like buying common at a discount because after conversion and the issuance of new pfds, we will all be commoners.