Nuveen's Andy Stenwall says the government's guarantee of Fannie and Freddie mortgage-backed securities make them as safe as Treasuries and that the pricing of other securities are attractive enough to provide a cushion against potential losses.
Welcome to U.S. Bancorp s first quarter 2010 Earnings Conference Call. Following a review of the results by Richard Davis, Chairman, President and Chief Executive Officer and Andy Cecere U.S. Bancorp s Vice Chairman and Chief Financial Officer, there will be a formal question and answer session. (Operator Instructions). This call will be recorded and available for replay beginning today at approximately noon Eastern Time until Tuesday, April 27 at 12 o clock midnight Eastern Time. I will now turn the conference call over to Judy Murphy, Director of Investor Relations for U.S. Bancorp.