Fannie Mae-No Politics (FNMA)

[mikoli007]

Munger wrapped up the discussion by saying that the old Fannie Mae and Freddie Mac "experiment was a total failure.""

Hmmm, started in 1938, became public in 1968. Worked like a charm until the government poked it's finger in it.

Buffet and Munger sell out and lose out on a great opportunity. Now they are just plain jealous they don't get there way. Berkowitz and Ackman step up when no one else would.

Hmm looks like the old schools dying and the new school is stepping in!
Move over Buffet, there's a new genius in town.