Fannie Mae-No Politics (FNMA)

[big-yank]

Please do not associate me with this message's content or its author. Some of it I agree with and have posted here previously. But much of it I disavow and dislike, and I certainly express no view on the S A article having some basis in the PWC settlement. I could probably hazard a guess as to who sourced that claim, but I will not make that opinion public.

The one thing I did find interesting in this highly negative response to the golden share proposal in S A is that it confirms an earlier prediction of mine that friction would develop between preferred and common Fannie Mae shareholders when the money-counters sensed it was about time to do the divvy of proceeds in the endgame. The author of this condemning response wants to liquidate preferred shares worth $19 B, then issue $60 B in some new equity offer that magically will have no dilutive consequence for commons? Not EVER going to happen.

JMHO.