Nope. One of the largest with a very long track record and of paying dividends. look at how jittery the market got when uncle ben first talked. And besides NLY management is not dumb they know rates are going to cycle up and down. I'm not short won't lose anything unless I sell. We will know more in a couple of weeks. I'm sitting tight. You can do as you wish.
now talk is about too big to fail, well NLY is the size of a pimple on the feds' #$%$, and they don't have the PR baggage of banks, Ben should be capitalizing these private REITS, it is his only chance of success to at least create the illusion of tapering on MBS buys
now ask yourself, even though the fed is not technically a government organization though their board is, and even though the regional banks are not chartered as government but interact with same, and given that this MBS purchasing is if not stopped moved off balance sheet, why not use currently viable business structures to offload said balance sheet activity? Why would NLY not be utilized as a vehicle to do this? Michael went in front of congress and tried to be honest, why cannot this company be honored?
Yes absolutely. I highly recommend you Short NLY tomorrow morning as much as possible.
Full Disclosure.... I'm long at $14.5 wtih some dividends under my built and plan on cost averaging down with another 1/3 buy here at $12. My last 1/3 will be bought if we get to $10.5 ish on panic selling.
But please feel free to short the NLY Scam. We need buyers later this fall.