COUSINS PREFERRED B (CUZPRB)

I previously mentioned that I had purchased Cousins Preferred B shares at 11, see 10/28/2008 post at the 4th paragraph-  REITS: FIRST INDUSTRIAL AND COUSINS PROPERTIES  Cousins announced today that it had been authorized by its board to buy up to 20 million dollars of its preferred stock.  This caused my preferred shares to pop almost 30% today, now trading at 15.5, so I went ahead and sold them.  Since any new investment or add must be paid for by the proceeds of a sale or from cash flow into my account due to restrictions placed on myself, this will free up some cash to do a nibble later today or this week, with more to come by next Monday which is a good interest and dividend day for me.  Some of the bonds and trust certificates (e.g. JZJ, JZE, JZV)  pay interest then.  

I thought the news that the government and the banks had worked out a plan to work out the troubled mortgage loans was positive.Yahoo! Finance washingtonpost.com This is after all the source of the problems.  Even after all of the government bailouts, the foreclosure crisis remains an untreated infection poisoning the entire economy.  In this article, one bank estimated that 80% of the 1.8 trillion in troubled mortgage loans had been sliced and diced by the Wall Street brains into pieces and sold to investors around the world, which makes it extremely difficult to solve the problem now.  Only 20% of the troubled loans are "whole" loans that would be easy to modify since there would be a single owner for each of those mortgages.