Fannie Mae-No Politics (FNMA)

[PatrickBateman]

"Here’s a fair approach: The junior preferred and common shares should be wiped out. They would be worthless already were it not for taxpayers’ money. There was never an implicit government guarantee for them, only the companies’ bonds. The investors who bought the shares knew the risks. Let them crash. It’s the right thing to do.

To contact the writer of this article: Jonathan Weil in New York at [e-mail] "


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