stock market

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I finally go my head out of the sand and called my broker for the bad news. It wasn't to bad. But we got talking and he said when Fannie and Freddy got bailed out they did away with the common and preferred stock. Many older folks had their investments in these SAFE? stocks. I didn't but I had some that got somehow sweept up in that Gove. bale out. and now I'm out. How much have you lost in the market? Remember all may not be lost there is some tax advantage. And my Broker felt that when the truth is known about what the Gov. did to us there may be some settlement.