Fannie Mae-No Politics (FNMA)

[MarketGeometry]

Sounds about right. Also note per senior preferred share agreement liabilities cannot be paid off. Fnma will pay dividend till 2018 but these dividend can't reduce it's liability towards government. After 2018 government is entitled to take complete net worth.

You can check this link and confirm your method of calculation is correct for preferred and common book value.

http://www.accountingcoach.com/online-accounting-course/17Xpg08.html#book-value