Fannie Mae-No Politics (FNMA)

[Donotunderstand]

I agree it is excellent

I agree it went to the heart of eminent domain

Yet the FOX spin - Fox Business spin - was "interesting"

e.g. we did not need the bail outs to start with (all the banks ) as it was a bad risk reward for the GOV at the time

no one there to say - sans the bailouts we might have had a Depression for ten years

And I do think it was clear to all they would have been in CH11 barring this infusion

NOW in CH11 - not 7 - they (the company) would repair and exit - but the likelihood that creditors would have allowed equity to own anything is near zero ---- again Fox made it sound like the GOV stepped on equity and no one else would have

IMO - my opinion and that of so many others - as the Chinese offer apparently was a myth - CH 11 was going to happen and in that 11 original equity would have been entirely wiped - as in most such cases - e.g. see Kmart - and bondholders would own the NEWCO and make the 20 B profit