Fannie Mae-No Politics (FNMA)

[JosephS]

Blackstone presentation shows that Treasury was trying to muscle out both the preferred and common shareholders. The presentation even shows a strategy of not turning on dividends to attempt a coercion of pref shareholder conversion to sr pref at a discount. They clearly wanted everything. All of the profits possible at the expense of common and preferred.

I have read this 4 or 5 times over the last couple of yrs. Shows intent in my honest opinion.