Fannie Mae Preferred S (FNMAS)

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"I just don't buy it that the Feds are buying the GSE portfolio just to help keep rates low,... theres more to it. There usual is...

The current balance of the net investment could be even smaller than most of us think, now with QE3 in full swing."

More suspicious of the Fed buying the MBS from FnF, selling them to investor, making a profit, requiring FnF to pay the interest to the investors while the Fed keeps most of profit and sending excess profit to treasury. Again I find this sequence of doing business saying shareholders assume the losses while government profits under protection of doing it for the taxpayer benefit.