Please thank DC Grannie for her wisdom. Believe it or not I actually thought I was doing a good thing when I bought FNMAT in May 2008 - of course I thought the 8% coupon was good but I actually believed in the promise of home ownership and the mission of the GSEs and wanted to invest in the solvency of FNMA. One of my favorite movies is its a Wonderful Life and I always think of FNMA like Bailey Savings and Loan because it enables people to get 30 year mortgages. Perhaps DC Grannie will appreciate this clip from Its a Wonderful Life:
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