Fannie Mae Preferred S (FNMAS)

[skibrian]

i think i may sell after a nice bounce. i think there is some volatility to come with lots of good news coming...but, DeMarco remark here:

http://www.fhfa.gov/webfiles/25024/EJDNABESpeech.pdf

"In addition, the recent changes to the PSPAs, replacing the 10 percent dividend with a net income sweep,reinforces that the Enterprises will not be building capital as a potential step to regaining their former corporate status."

something tells me that the Administration can't be more clear...time will tell whether this policy is reversed, but it is looking more and more permanent to me...share price today isn't supporting that...but it looks to me that they are telling us as loud as they can that these shares will have no value

i'm going to keep sitting for a while, but my mood is darkening. i won't panic sell...