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To: tom pope who wrote (65052)	9/23/2008 3:27:19 PM
From: Dale Baker	Respond to of 118717

The thing about the illiquid pfds is that once they look "safer" the volume comes back, enough to get out of modest positions if you keep an eye on the bid-ask depth. I'm just amazed that people won't buy dollars for 80 cents, even with an extra dime per year bribe thrown in. If the company has real problems, fine, but the pfd market in general has become a no man's land full of securities that are sound and income generating. Just one of the many quirks of the 2008 meltdown.