Fannie Mae-No Politics (FNMA)

[Potty]

Divide your 86 by 5 and you get closer to Ackman's valuation -- because the warrants are not in doubt.

What leverage is there to remove the warrants? No viable court case challenges them.

When the big boys settle, who will fund any case challenging the warrants -- and these cases cost big.

So I think Ackman is right -- the warrants will stand, though perhaps not all and/or not at the crazy strike price, since this brings the government to the table. And there is little viable way to strike them down -- that takes court and years, wake up people.

So, personally, I think anything over $50 value a common share is pie in the sky. (Remember the Ackman range was 23-47) . IMHO