Fannie Mae-No Politics (FNMA)

[big-yank]

No, that is fundamentally incorrect. Many restructurings take place that have absolutely NOTHING to do with any form of recapitalization. Hewlett-Packard recently restructured by splitting into two entities. It had nothing to do with recapitalizing, per se.

Sears Holdings yesterday announced a restructuring by closing 140 Kmart and Sear under-performing retail locations. It had nothing to do with a financial recap. Just a need to stem the financial loss hemorrhaging.

Mnuchin never inferred any kind of recapitalization of Fannie Mae in his remarks to date that I have ever seen. Please feel free to correct me if you have evidence, otherwise. But, for the record, "restructuring" does not mean "recapitalizing" in business.