Fannie Mae-No Politics (FNMA)

[real777mellon]

You don't know illiquid until you sit on very valuable CH 11 PFD/Hybrid securities with guarantees for years as little by little every distribution to creditors finds excess of every creditors claim per tranche.

2008 is a 15+ year process that benefits from a slow unwinding, opportunities in buying on OTC what accredited only IPO participants dump, and knowing just what the heck you are buying.

Similar principals make GSE common stock the 8th wonder of the world in that how could it be so overlooked when we can just use our PC/phones to learn how they work, how they're finances are, and how they are exiting conservatorship -> most importantly why they are meant to become private sector companies with public listed shares and the environment they are coming into being so much more profitable and simpler than the one they left in 2008.

Many things about 2008 remain out there, illiquid for the majority of valuable investments in the open market - but FNMA and FMCC are the exception. If these two are illiquid I find it funny in the past 6 months the volume has broken the top 50 lists with tight spreads of one cent more than a dozen times up there with all the NYSE and NASDAQ listed company's common stock.

Illiquid. That's funny. Can't remember the last time I saw a FNMA or FMCC spread over a penny.