Fannie Mae-No Politics (FNMA)

[big-yank]

Icahn bought the shares from Fairholme for around 4 bucks. It was not a big amount of shares for Carl based on prior positions he has taken. Many of Icahn's positions are "trade-in/trade-out" deals where he holds shares for a brief period, gets concessions or a fast buck deal and then hits the exits for the next deal. I wouldn't read too much into his shares unless he buys a whole lot more which would be a clearly bullish signal.

I also would not read too much into Berkowitz selling off shares to Icahn. Fairholme's position has been more pro the Preferred's than common shares. I view the disposition as clarifying, not changing Berkowitz's obvious commitment to both Fannie & Freddie.

JMHO.