Fannie Mae Preferred S (FNMAS)

[rjwince]

Exercising warrants by Govt seems to be a slam dunk but Professor Epstein explains reasons why that would be very unwise in his podcast early Dec at 29.5 minutes. He also covers many other issues in the last 30 minutes that work in our favor including the forthcoming discover interviews, the continuing "protecting taxpayer" mantra and most importantly "fiduciary duty" many times. I am long with many preferreds but am starting to consider the very large upside if warrants are not exercised. Comments?