Fannie Mae-No Politics (FNMA)

[imtheshadow]

For true longs, of which I am one, the FnF saga has not only been a costly ordeal, but an emotional assault as well. We have watched our own government drain two of the largest and most profitable firms in the world without compensation to shareholders - and, so far, the courts have said its been legal. So it seems odd that those of us who express skepticism at favorable legal or administrative resolutions, particularly imminent ones, are accused of being shorts. Unfortunately, if you look at what has actually happened, the only thing that might truly be justified is skepticism - the same skepticism expressed by the market, as evidenced by the pps, and even Bruce Berkowitz who has repeatedly said this may likely have to go to SCOTUS. I remain highly skeptical about a favorable outcome any time soon - but also hopeful that some how, some day, shareholders will be compensated fairly. cheers