Fannie Mae Preferred S (FNMAS)

[Joe Stocks]

He's right, there hasn't been a taking yet.

He said they did in the quote you posted.
"They're (speculators/vultures) buying up property that we've (the government) taken from other people (common and preferred shareholders of ownership holding shares September 7th, 2008)."

I am not saying I agree, but that is what he is saying.

Let's say your neighbor wreaks his car. He sells his wrecked car to you at salvage value. The insurance company settles with him because he has damages. You don't get the settlement because you have not been damaged. The damages don't go with the car or a share of stock. Those damaged have a right to liquidate their "damaged" shares to cut their losses. To say otherwise would say they were NOT damaged and you were. That would be an unjust enrichment. If there is a lawsuit do you really think a holder on September 7th can not argue that they were harmed, but the speculator who bought this week can?

In my uneducated opinion the better argument would be the taking took place on August 17th the day they basically said we are going to unwind you and take all your profits so you can't build equity.

When did AIG say the taking took place, or I guess the process of the taking end?

http://www.newyorkfed.org/newsevents/news/aboutthefed/2011/oa110114.html