Fannie Mae-No Politics (FNMA)

[Commons_Cancelled]

We are only 20% of the company now (20.1% technically), but when the need for additional capital raises occurs ... let's just say that 20% is likely to become 10% or maybe even 5%.

Government isn't cheating themselves when they own the Sr. Preferreds, which are worth more than the Warrants at this point. Who cares about the Warrants at this point? Sr. Preferreds provide the Government with more money and it'll be easier to just crush the Twins in Receivership since they've won every court case and the Judges say they can do whatever they want.