Fannie Mae-No Politics (FNMA)

[CatBirdSeat]

Berkowitz transcript:

http://www.fairholmefundsinc.com/Documents/ConferenceCall20170629.pdf

From the Berkowitz transcript:

Berkowitz:

"I truly haven’t heard one person, not a single one, offer a compelling argument for why Ken Moelis is off base. In fact, alternative proposals present serious transition risk and are really fraught with unintended consequences for America’s $10 trillion housing finance system. We can’t afford to get this wrong as a nation. I believe the administration implicitly understands this."

...
Well, well, at least we know who has been cheerleading and shoving Moelis plan down everyone's throat.

Berkowitz is no better than Obama and all the other crooks who perpetrated the NWS. Hey here is a great plan to step all over one group of investors to help the 'preferred' shareholder cause.

Note earlier in the transcript Berkowitz goes on about being a longterm investor and treating it like a marriage. Come on, if he truly feels that way he should not mind waiting years to later get the preferred shares paid rather than getting paid fast by sticking it to the majority common equity.

Berkowitz is an enemy of the common equity shareholder. Berkowitz is not our friend. That message was loud and clear in this recent transcript.

But whatever,...it seems like everything Berkowitz has done, has not worked so far.