Fannie Mae Preferred S (FNMAS)

[rosen62]

On shareholders' rights: not completely O/T and worth a read...

Today, the Argentine government announced it has reached a preliminary agreement with Repsol, the Spanish oil company to which the Argentine government expropriated 51% of its shares in 2012 effectively nationalizing the enterprise. As part of the deal, the government will pay Repsol 5 billion for the expropriated shares as compensation to shareholders. In exchange, Repsol may drop all lawsuits.

Two days ago, the government elected a new minister of economy -Axel Kicillof- who is a follower of Marx and it is being rumored he is learning German language in order to read Marx's work in its original language. By selecting Kicillof the government reinforces the path to a Venezuela type of economy with central planning and an overpowering State focused on redistribution of wealth.

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If Argentina has been able to achieve the miracle of respecting shareholders' rights it is virtually impossible for the US not to do so.