Fannie Mae-No Politics (FNMA)

[IL Padrino]

Actually it doesn’t matter because he was talking about past tense on what he “would have done”. A much different road was taken. He also stated that HERA was not applied according to its intent. So I think the only reasonable action at this point is to release and create backstops against any future bailouts. This means private capital and smaller footprint.

instead, he replied.. "i would have done debt to equity swaps for anyone who was actually systemic & had long run value, whether bank or GSE" What does that mean? Debt to Equity swap? Does this mean dilute your shares and raise more funds to payoff debt? I think this is what it means.