There was one time FNMA run up to $1 level in 2011
In Jan 2011, FNMA had one time run up to 0.90 something, then fell back.
But that time is diffent from this time. That time, FNMA did not get profits yet, still huge lost, and the economy was still worse.
Today, everything getting better. The Company have had one full year 2012 of profits and shows their capability to pay down or even pay off the debt to government, I personally don't think FNMA will fall back to 0.30