Fannie Mae Preferred S (FNMAS)

[JosephS]

No disagreement with that post. I was only saying that I think they could raise 300-350 (I was assuming common stock raise in secondary mkt)even with the Sr. pref continuing to be outstanding. depends on the structure. the GSE's were highly profitable from the 70's through 2005. In normal times, I would expect them to continue to be profitable.