Fannie Mae Preferred S (FNMAS)

[CatBirdSeat]

QE3 What it means, WSJ.

"The Fed said it would buy mortgage-backed securities, or MBS, for an indefinite period to bolster the economy. That could spell an opportunity for investors—and might warrant stocking up on funds that hold the securities, say analysts."

"The Fed says it plans each month to buy $40 billion of agency mortgage-backed securities, which are supported by government-sponsored enterprises such as Fannie Mae and Freddie Mac FMCC +1.92% . The Fed says the buying will continue until the labor market improves substantially."

http://online.wsj.com/article/SB10000872396390443890304578006702760267388.html

We will now have a buyer with a money printing machine,... Hmm. Now what do you do with Fannie Mae and Freddie Mac.