Fannie Mae-No Politics (FNMA)

[RickNagra]

No. No. No.

There is NO way "annual earnings to recap themselves" could ever work. Hypothetically assume if there was another crisis next year. You cannot have the GSE's recapitalize themselves as they take their sweet time. This similar situation occurred at the trailer park where I live. There was a problem with the electricity. Everybody needed to contribute fairly and equally $10 to fix the problem. Some folks held out and used the $10 for beer money. Then they realized they had to drink their beer in the dark. So they eventually coughed up the $10. We got the electricity fixed in our trailer park.