Fannie Mae-No Politics (FNMA)

[Donotunderstand]

For Grassley

saying 15-20 years ago they did bad is a positive (v 5-10 years ago they did horrors)

and while reformed has many good and bad meanings - to include the potential for reform is a positive - as opposed to saying for example they are an oligopoly and a historical legacy that we need to bread from

i.e. his non support could have been a BASH (and IMO would have been a BASH 2 years ago and with out BIG money (spell that p o t e n t I a l d o n o r s ) on our long side (and offering privates solutions )

all in my good mood of 30 cent or so kick up in pps