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  • Wall Street Breakfast: Must-Know News [View article]
    Preferred stock is senior to common stock and junior to bonds. If the government takes over Fannie and Freddie, the common will almost certainly go to zero, very likely that preferred stock will do the same. Bond holders will likely remain whole and, in effect, hold treasuries.

    What a disaster for capitalism. National debt will instantaneously double. Will the value of the dollar be cut in half? Almost certainly no, but it will fall further immediately.
    Jul 11 14:32 pm |Rating: 0 0 |Link to Comment
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