Fannie Mae-No Politics (FNMA)

[imtheshadow]

rek, all of your objections assume the gov't will own the shares, but I don't expect that at all. Rather, they will either sell their ownership rights to others or simultaneously exercise and sell the shares. I worked as the CFO for public companies for 15 years and saw that happen every week in every industry. Its just the way corporate finance works. Re the 5x multiplier, you are totally correct - my fat finger hit 5, but it is actually less than 2x as you state.