Fannie Mae Preferred S (FNMAS)

[Ace_of_Wands]

The language is still just shadow play, and the past tense while applied so terribly clumsily, refers to their pre C-ship status as being implicitly backed.

1st paragraph is exactly what F&F and implicit guar. did in the first place.

covered bonds, no? Hadn't that been debunked?

We own shares in a company that has tremendous actual value, and fell to its current state through actions outside of it's control. We may be speculators, but that doesn't mean we're wrong, or that we are witless greedy vultures.