Fannie Mae-No Politics (FNMA)

[Donotunderstand]

yes - it is not the usual LV --- it is a borrowed word to have a place to increase the GOV investment as th # of SR PFD shares never changes and they do not trade. So The GOV needed a "counter" and they call it LV

And the Senior Preferred --- are not typical Preferred as they can put the money invested onto F and F at will (thus the investment is also an obligation for F and F that weighs down net real capital)

This is a mess and we are being taken. And for sure the terminology from Wall Street does not fit correctly to this unique steal