Fannie Mae-No Politics (FNMA)

[capitalismforever]

But the profit is there. The shareholders are there. You can't bait and switch like this and expect ANYONE to show up for ANY proposed replacement.

Again it boils down to - look at what we did to the last group of equity investors - we screwed them. Who wants to get screwed next?

Who wants to sign up for that exactly?

The argument is moot because it happens all the time. GM wiped is shareholders and they IPO'd for $33 per share after leaving existing shareholders with $0.01 per share. The new shareholders didn't mind at all. It's a big universe. You can find a buyer for anything.