Fannie Mae-No Politics (FNMA)

[martingale]

Thanks tex. I don't happen to care for IPO deals as I like to see some history of trading thru crisis first. Currently playing LEH (Lehman Bros) for example at $7 and change. It could drop further but I do look like their history and they did rebound nicely from the melt down experienced when that huge hedge fund failed and left them apparently holding the bag.

These are smart guys and went overboard on MBS deals much to their trauma now. Well Washington Mutual did the same thing
but they lack the creditals of a Lehman Bros. I think WM may fall more and other major banks as well when they report Q3 and Q4.

Shorting specific financials is also a way to play if you can find those with huge losses which have yet to be made public.
The market is discounting now but I don't think it is enough yet on some of these stocks.