Fannie Mae Preferred S (FNMAS)

[saltflat96]

demarco did not execute principle write downs. he avoids moral hazard and damaging blow to fnf's bottom line. demarco gets booted.

zandi is all for principle write downs, so he gets the job.
zandi will institute principle write downs. fnf books will take a hit.

i see principle write downs as bad for our share price.
unless this happening is already baked in as just another hurdle that must be overcome before fnf get broken up and pfd shares are made whole.