Fannie Mae Preferred S (FNMAS)

[44centsAKAchoccake]

Well, they aren't explicitly doing that. In terms of "net investment," they are implicitly doing so. You have to trust the US government to do the right thing--if you don't, buy gold. If FnF are profitable and the real estate and mortgage markets do ok, I think the senior preferreds will eventually be retired. Or maybe not, but the preferreds could do ok anyway.