Replies to post #666448 on Fannie Mae-No Politics (FNMA)

[bradford86]

the mechanics that i've been predicting for the restructuring have been the same for years now, and it starts with senior preferred liquidation preference writedowns at both fannie and freddie.

to your point though; i have been wrong on timing;

i thought it was going to happen many times over by now and here we are, senior liquidation preference still increasing every three months