Fannie Mae Preferred S (FNMAS)

[Potty]

Pref polar express was going to hell for a couple of weeks there -- what happens when we find the economy in desperate straits in couple of months? You think the talk then will be "Oh yeah, let's RnR FnF" or will it be never again, we need radical reform etc?

I think we get another dip, and a big one, on the market and the pref in the next month or so, just IMHO

PS I like we have a whole Board to ourselves with an average IQ above the single digits (joke)