Fannie Mae Preferred S (FNMAS)

[44centsAKAchoccake]

I think there will be more "10 basis point" type deals after the election.

Raises GFees paid by new mortgageholders, FnF gets credit for them in terms of net investment, funds go to fund politically-favored purposes such as payroll tax reductions, Rs are happy because it makes it easier for big banks to compete against FnF.

That's another way that FnF can repay taxpayers sooner than expected. 10 bp is worth roughtly $35 billion or so.