Fannie Mae-No Politics (FNMA)

[mrfence]

Preffered issue holders thought they were entitled to dividends when the net worth sweep started coz it was more than the original 10% Senior dividends and said, "Hay! Don't ya'll see our big red noses? If we don't get a cut of the action we're taking our 3 ring circus to court!" So they ran from one court to another tripping all over themseves trying to be heard
Finally a Judge watched their show and said, "I hear you. I hear you saying your big red noses are entitled but they're so Not! Y'allwouldn't have been entitled to dividends anyway." So some preferred issue debt holders learned they're not entitled and left the act behind. The remaining clowns parade around in their best clown shoes trying to sell reruns of the sad, sad show. FNMAS dumped down over 17% just today. Spectators are running for the exits because the preferred tent's on fire!