p.s. US Treasury bond yields will rise significantly as a result of FNM/FRE bailout. This is exactly what Bill Gross is hoping for (assuming he is still shorting treasurys).
All indications are that current FNM and FRE shareholders will be wiped out. How can preferred be saved without a future dividend? Overall stock market will be up 100-200 points on the open. Huge selloff by mid-week. Good luck.
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