Fannie Mae Preferred S (FNMAS)

[europegoodold]

"This will come as a surprise to the pundits that have vilified Fannie Mae and Freddie Mac in recent years."

Let's not forget, pundit Nr.1: Edward DeMarco.

His words on February 28, 2012:

"In particular, FHFA must consider what it means to “take such action as may be necessary to put [Fannie Mae and Freddie Mac] in a sound and solvent condition” when it is clear that the draws the companies have taken from the Treasury are so large they cannot be repaid under any foreseeable scenarios."

http://www.fhfa.gov/webfiles/23408/02-28-12_FINAL_DeMarco_Testimony_SBC.pdf

(p.9)

High time for the gravedigger to put on another dress.