Takeaways from Washington DC:
1: The main reason Senators want to "kill fannie" is revenge from 10 years ago. They need to take an anger management class and stop acting like a divorcee.
2. Congress is ready to look at a "reform fannie" bill written by shareholders. We need to fix our own company, not an angry congress.
3. Congress thought they could "kill fannie" without any repurcussions, since most of the hedge funds got out in 2008. They had not counted on us 18,000 shareholders standing up for our rights and we caught them by suprise. They knew "shockingly" little about fannie and the "average" Ihub reader knew fannie far, far more than the average senator.
4. Most importantly, congress has no idea how "killing fannie" will hurt our economy. No, not just the 30,000 jobs by fannie/freddie employees, its much more than that.
5. The most likely senario is that the sign on fannie will be taken down, and a new one put up, with all the same things as before with fannie shareholders owning the "new" fannie. Congress can then brag,
"we fixed it", when they just put lipstick on a pig and sold it to the public as a beauty queen.
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