Fannie Mae Preferred S (FNMAS)

[brandemarcus]

1. The "flat earth" people will respond that he's talking about the organizations with new owners. The securities mentioned are mortgages guaranteed by fnf, not preferred or common shares.

2. It's also interesting to note the omission of the statement from the September 2011 speech of how "it ought to be clear to everyone how unlikely the gse's will emerge from conservatorship".
Now is that omisssion because they have nationalized them? Stay tuned , I think they are going to have to clarify things further.

3. There are 2 questions in owning these jr pfd: 1. Will the taxpayers be paid off with something left for the jr pfds? 2. Will the politicans allow it to happen? In a year from now I think we will be surprized how fast #1 will happen. I hope that an improving situation for #1 will have some influence on #2.