A typical quote from Richard Lehmann's column in the June 2, 2008, issue of Forbes Magazine:
"Floaters are issued by many corporations and financial institutions, but with the current loss of faith in credit ratings, I'd recommend only those from Fannie Mae and Freddie Mac. Not that those two organizations are pillars of strength, but they do garner their AA-- ratings from their implicit guarantee by the U.S. Treasury and the fact that a huge financial panic would follow if they were allowed to fail."
Lehmann then recommends the purchase of Fannie Mae preferred, at $47.00. Today it sells for $1.88.