Fannie Mae-No Politics (FNMA)

[RickNagra]

What a great article and great summary. Best part was :

This will become a takings when the amount swept exceeds the original loan agreement. This is by the end of 2017. In this case, the warrants will be cancelled because exercising them is a takings. Stock is worth $115+ by Ackman's calculations. You need to multiply his numbers by 5 to get to undiluted values. $23 x 5 = $115.
If it can be shown that the FHFA is breaking the law by not protecting shareholders, then the third amendment can be thrown out. This is what is going down in Sweeney's court.

So basically we all have to wait for another good 3 years to reap the rewards. May as well hang out at Costco then cause nothing is going to happen here for a while.