Fannie Mae-No Politics (FNMA)

[Wise Man]

The analyst Dick_Bove is a career con man. This is why he works for a small firm. Sell rating on FnF, stocks trading at a PER of 0.3 times.
Last week, he attempted to justify the accounting fraud of FnF seen every quarter, when the current SPS handed out for free, which can be considered like a stock dividend to the Treasury, reduces the Net Income, but it can't appear on the Income Statement because it's not a cash payment and thus, it isn't an expense for the shareholders, saying that it's like a loan and the dividend will be paid in cash in the future.